BMW Said On Thursday That Manufacturing Has Officially Commenced At A New Factory In China With A 15 Billion Yuan ($2.24 Billion) Investment As The Carmaker Boosts EV Production.
The Lydia Plant, Located In The Northeastern City Of Shenyang, Liaoning Province, Would Expand BMW’s Annual Output In The World’s Largest Auto Market To 830,000 Vehicles From 700,000 In 2021, According To The Company.
According To BMW, The Plant Is Designed To Produce Battery-Powered Electric Vehicles Only In Response To Market Demand On Its Flexible Manufacturing Lines.
The i3, a pure electric mid-sized sports sedan, will be the first model to roll off the Lydia plant’s production lines, according to BMW, boosting the range of its EV cars for Chinese customers to 13 next year.
Tesla and Chinese automakers such as BYD dominate China’s burgeoning EV industry, with sales more than doubling year on year. Meanwhile, internal combustion engine kings like General Motors and Volkswagen are slipping behind.
According to data from the China Association of Automotive Manufactures, batteries powered nearly a quarter of the cars sold in China in the first five months of this year.
According to a business filing, BMW sold 208,507 automobiles in China, its largest market, in the first quarter, a 9.2 percent decrease from the previous year.
(Adapted from EconomicTimes.com)