BMW Sinks Huge Capital Into EV Factory

BMW is betting big when it comes to an electric car future. The German automaker announced today plans to invest around €400 million, or $560 million, in its Leipzig factory to make it the first location in Germany equipped to handle the large-scale production of zero-emission electric cars. This all comes as the company builds up to a 2013 launch of its Megacity Vehicle electric vehicle design.

BMW said the large investment it is making will create 800 jobs in the process of adding new machines and buildings for the production of electric cars. This looks to go even further though than the Leipzig expansion. Including production of components, a total of €530 million, or around $744 million, will find its way as well into other BMW plants, including Landshut and facilities in Wackersdorf and Moses Lake in Washington State. A total of over 1,000 jobs will be created as a result.

BMW Megacity

image via BMW

“By producing the Megacity Vehicle in Germany the BMW Group is demonstrating a clear commitment to Germany as a high-tech location,” said Dr Norbert Reithofer, Chairman of the Board of Management of BMW AG, in a statement. “With this vehicle we are revolutionising automotive design and production, and offering our customers the first purpose-built electric vehicle for urban areas. This will be the world’s first volume-produced car with a passenger compartment made from lightweight CFRP, as less weight enables a longer range.”

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