BMW will increase its investment and add battery production to its EV m
anufacturing site in Hungary.
In the last year, BMW's EV portfolio and production have expanded quick
ly, and they don't have any intentions to slow down.
A new EV production facility in Hungary will get a $ 2.08 billion investment from the German company.
BMW will also spend an additional $ 500 million to construct a battery
assembly line there.
BMW intended to build a plant in Hungary that would cost just over $1 b
illion and produce 150,000 cars a year.
The facility's increased production capacity is unknown given that it w
ill now be producing battery cells.
Tesla has joined the luxury automobile market, costing BMW customers.
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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