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BMW announces 1b euro investment in Austrian Steyr plant by 2030

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Published Mon, Jun 20, 2022 · 07:04 PM
    • An electric-powered BMW iX at the 43rd Bangkok International Motor Show in the Thai capital in March.
    • An electric-powered BMW iX at the 43rd Bangkok International Motor Show in the Thai capital in March. FILE PHOTO: REUTERS

    GERMAN carmaker BMW announced on Monday (Jun 20) a 1-billion-euro (S$1.46 billion) investment in its Steyr plant in Austria by 2030, where it plans to produce its next-generation e-drives starting from 2025.

    The site’s annual capacity is set to grow to over 600,000 units, BMW said in a statement.

    The sum is set to include an investment of around 710 million euros in production, it added. REUTERS

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