BMW to build new electric Mini in England after U.K. government approves multimillion-pound investment

The German automaker said it would invest 600 million pounds in the project, allowing the factory to begin making two new all-electric models in 2026 before moving completely to electric vehicle production four years later.The commitment came after the U.K. government agreed to plow an undisclosed amount of taxpayer funding into the project.

"Today we are announcing the new generation of fully electric Minis are being built here in Oxford, and setting the path for the future of this site," Milan Nedeljkovic, the BMW Group board member in charge of production, said. British car production slumped 40% from 2019 through 2022 as the industry was hit by Brexit and COVID-19, as well as post-pandemic computer chip shortages and the transition to electric vehicles, according to figures from the Society of Motor Manufacturers and Traders.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BMW to build new electric Mini in England after UK government approves multimillion-pound investmentLONDON (AP) — German automaker BMW is set to announce plans to build the next generation electric Mini in Britain after securing U.K. government support for a multimillion-pound investment in the company’s Oxford factory. The government on Monday confirmed its backing for the project, which will protect 4,000 jobs. While the Department for Business and Trade didn’t specify the level of taxpayer support, British media put the figure at 75 million pounds ($94 million). BMW is expected to release a
Source: YahooFinanceCA - 🏆 47. / 63 Read more »