CNN
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BMW recently announced a $1.7 billion investment to help prepare its huge Spartanburg, South Carolina, factory to produce electric cars and SUVs. That sum included $700 million for the construction of a battery manufacturing plant nearby.
Spartanburg is BMW’s largest factory anywhere in the world. It employs 11,000 people and produces 40,000 SUVs a year, only 40% of which are sold in North America. The rest are exported to 120 other countries.
It’s one of a number of such announcements in recent months and years as automakers gear up to start producing more electric vehicles. Mercedes, Hyundai, Honda, and others have also announced battery plant construction projects in recent months. BMW’s announcement came after the passage of the Biden administration’s Inflation Reduction…