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BMW Announces $1B EV Production Investment in US

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Oct. 21, 2022—BMW is investing $1.7 billion to build electric vehicles in the United States, according to Reuters. 

The automaker recently said a $1 billion investment will go toward preparing its Spartanburg, South Carolina, plant for EV production. Additionally, $700 million will go toward establishing a high-voltage battery assembly plant in Woodruff, South Carolina. 

According to BMW Group Chairman Oliver Zipse, this is largest single investment the automaker has made thus far. South Carolina Governor Henry McMaster said the BMW capital investment is the largest in the history of the state. 

Renewable energy group Envision's Automotive Energy Supply Corporation also has plans to build a battery cell plant in South Carolina. This plant will supply BMW and will have an annual capacity of around 30 GWh. 

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