BMW to invest $1 billion in plant expansion in South - leatherbiz: Lea Leatherbiz

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BMW to invest $1 billion in plant expansion in South Carolina

28/03/2014
BMW to invest $1 billion in plant expansion in South Carolina
Automotive group BMW has announced that it will expand capacity at its US plant in Spartanburg, South Carolina. The company said it would invest $1 billion in the plant by 2016 to help it meet global demand for its BMW X models.

New investment on this scale will help the group increase annual production capacity by 50% to 450,000 vehicles from 300,000 currently. BMW chairman, Norbert Reithofer, made the announcement in Spartanburg on March 28 at a special ceremony to mark 20 years of production in the US for the company.

The plant’s expansion will also increase the number of employees at the US facility by 800, bringing the total workforce to 8,800. “This will also make Spartanburg the largest plant in terms of production capacity in our global production network,” Mr Reithofer added.

According to a study released by the US Department of Commerce, the annual export volume of BMW’s Spartanburg plant has a value of $7.5 billion.

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