NEWS Desk Global
Apr 261 min
BMW announced on Friday its intention to invest an additional 20 billion yuan ($2.76 billion) in its Shenyang production base in China, emphasizing the premium carmaker's strong dedication to the Chinese market. This investment will bring the total investment in the plant to approximately 105 billion yuan. The added funds will facilitate the production of the Neue Klasse EV-only line, representing a multibillion-euro endeavor aimed at bridging the technology gap with competitors. Production of this line is set to commence in 2026.
CEO Oliver Zipse expressed the company's commitment, stating, "It's a commitment that not only points to our success in China over the past three decades but also expresses our confidence for the years ahead." This announcement coincides with a recent visit by Zipse and other business executives accompanying German Chancellor Olaf Scholz on a three-day trip to China, underscoring the significance of BMW's investment in the region.