German luxury automaker BMW will invest 800 million euros (currently about 5.888 billion CNY) to develop an all-electric model of its next-generation car in Mexico, according to the Wall Street Journal.
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BMW said the move will help the company move to half of its global sales of electric vehicles by 2030.
BMW said it will produce the Neue Klasse’s all-electric model at its plant in San Luis Potosi, Mexico. BMW currently produces the BMW 3 Series, 2 Series Coupe and the new M2 at the plant.
The plant employs about 3,000 workers, and the investment is expected to add another 1,000 jobs, according to data. BMW will invest 500 million euros (currently about 3.68 billion CNY) to build a new high-voltage battery assembly center in San Luis Potosi, where Neue Klasse models will use new round lithium-ion cells.
