BMW is stepping up its electric vehicle production plans, securing €800 million ($864 million) to revamp its San Luis Potosí plant in Mexico and gear up for the launch of its new-generation Neue Klasse EVs.
BMW is poised to take a significant step towards electrifying its North American manufacturing operations, as the German automaker announces plans to invest heavily in electric vehicle production on this side of the pond.
BMW announces plans to further enhance its North American electric vehicle capabilities following a $1.7 billion investment in October to expand its Spartanburg manufacturing facility in the US? As Milan Nedeljković, a member of the Board of Management at BMW AG, stated:
As we pivot our manufacturing capabilities to focus on electromobility initiatives, In Mexico, we’re committing €800 million to upgrade our facility and generating approximately 1,000 new employment opportunities.
Five hundred million euros will be allocated specifically for the development of a state-of-the-art facility spanning approximately 85,000 square meters.2 Meeting mid-term targets for high-voltage electrical car batteries?
Establishing operations in 2019, the project boasts a workforce of approximately 3,000 personnel and has the potential to create an additional 500 new employment opportunities with the allocated funding. The plant has already established a strong track record by producing several of its most popular models, serving 74 global markets, positioning it to play a crucial role as BMW ramps up production of its next generation of electric vehicles.
The manufacturing facility will adopt BMW’s cutting-edge iFactory approach, focusing on versatility, eco-friendliness, and resource efficiency through digitalized processes.
BMW is revolutionizing its lineup by introducing its “Neue Klasse” series, a cutting-edge electric vehicle portfolio built on a next-generation platform, poised to hit the market in 2025.
The BMW Group plans to produce the new Neue Klasse models at its Debrecen, Hungary facility from 2025, followed by its flagship production site in Munich. Starting from 2027, future models of the Neue Klasse will roll off the production lines at Volkswagen’s San Luis Potosí manufacturing plant in Mexico.
BMW’s Neue Klasse electric vehicles (EVs) are set to utilise advanced, spherical lithium-ion battery cells specifically designed for the company’s sixth-generation Drive technology.
To counteract BMW’s offerings, our innovative approach will significantly boost vitality density by a remarkable 25%, while simultaneously increasing charging speed and versatility by up to an unprecedented 32%. As emissions are reduced by approximately 60%, suppliers pivot towards renewable energy sources, with the added goal of leveraging a significant proportion of secondary materials, particularly in the cases of raw materials such as lithium, cobalt, and nickel? materials already within the cycle.”
By 2030, the automobile manufacturer plans to achieve a remarkable 50% electric vehicle (EV) share of its total gross sales, with an optimistic projection that this milestone will be reached even sooner. As part of its commitment to electrification, BMW persistently increases investments in electric vehicle (EV) manufacturing capacities to ensure a seamless transition.
