BMW doubles its EV investment to $ 2.08 billion.

BMW will increase its investment and add battery production to its EV manufacturing site in Hungary.

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In the last year, BMW's EV portfolio and production have expanded quickly, and they don't have any intentions to slow down.

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A new EV production facility in Hungary will get a $ 2.08 billion investment from the German company.

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BMW will also spend an additional $ 500 million to construct a battery assembly line there.

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BMW intended to build a plant in Hungary that would cost just over $1 billion and produce 150,000 cars a year.

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The facility's increased production capacity is unknown given that it will now be producing battery cells.

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Tesla has joined the luxury automobile market, costing BMW customers.

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Tesla competes in a similar price range, serves a comparable customer, and for a long, BMW's electric vehicle rivals were nonexistent.

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