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BMW opens third EV plant in China as it ramps up challenge to Tesla

June 24, 2022
Source: cnbc.com cnbc.com
News Snapshot:
BMW has officially opened its new 15 billion yuan ($2.2 billion) factory in China with a strong focus on electric vehicles as it tries to catch up with leaders Tesla and domestic competitors. Plant Lydia in the northeastern city of Shenyang is BMW's third plant in China but its single biggest investment in the country. The factory's capacity can be used solely for making electric vehicles as well as traditional combustion engines. BMW's i3, the company's first all-electric mid-size sports sedan for the Chinese market, started production at Plant Lydia in May. "The expansion of our production footprint in China...
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China Tech Buzz Topics: Berlin | BMW | BYD | car | CEO | China | Chinese | Covid-19 | currency | Economy | electric car | electric vehicle | Elon Musk | EV | expansion | factory | investment | manufacturing | Renminbi | Shanghai | Shenyang | sports | supply chain | Tesla | Yuan

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