BMW plans to invest 535 million euros in its US plant until 2021Automotive News
German manufacturer BMW plans to invest 600 million dollars (€ 535.6 million in exchange) in 2018 to 2021 at its factory in Spartanburg (USA), in addition to creating 1,000 new jobs.
The manufacturer, which celebrates the 25th anniversary of its US factory with 9,000 people this year, has injected 8,000 million dollars (approximately 7,140.8 million euros), BMW said in a statement.
The plant, located in the state of South Carolina, produces BMW X models destined for the United States and the global market and is currently preparing for the mass production of the new X7 model – which will arrive in late 2018 – .
The Spartanburg plant is the “largest in the Group’s production network” and BMW has celebrated its 25th anniversary with the departure of the production line of the brand’s new X3 model, which will arrive in autumn this year.
Since the birth of this model in 2003, the brand has delivered a total of 1.5 million units, detailed BMW.
In addition, since establishing the factory in 1994 – which currently employs 9,000 people – BMW has invested $ 8 billion and produced a total of 3.9 million vehicles; In 2016, in particular, produced 411,000 vehicles.
Around 1,400 BMW X3, X4, X5 and X6 units leave the production line every day, up to a maximum production capacity of 450,000 vehicles per year, 70% of which is destined for export to about 140 countries .
Specifically, in 2016 BMW exported from Spartanburg 287,700 vehicles valued at more than $ 10 billion: 86% from the Port of Charleston and the remaining 14% from five other ports in the southeastern US, has marked the mark .
The BMW Group has 235 local suppliers in the US, and by 2016, 80% of the group’s volume of purchases in the area under the North American Free Trade Agreement (NAFTA) – € 5.2 billion – originated in the US , The company’s second largest purchasing market after Germany.
For the president of the board of directors of BMW, Harald Krüger, “free trade has made this success story in the United States possible.”
“I strongly believe in free trade and open markets, it is essential for global companies and economies around the world to flourish. We will continue to invest in our people and our business in the United States,” he added.
EFE – Madrid EL DIARIO – 06/26/2017 (Translation Soft)