BMW announced an additional investment of 20 billion yuan, €2572 million to renovate its factory in Dadong city, Shenyang city, China.
The investment now announced is aimed at the “large-scale” renovation of BMW’s Dadong factory and technological innovation to lay the groundwork for the localized production of BMW’s electric vehicles Neue Klasse in China, as reported by the economic newspaper “Yicai“.
Last year, BMW indicated that it would start production of next-generation electric vehicles in Shenyang in 2026 and invest €1286 million to build a battery factory.
The new investment plan also highlights China as the “core” of BMW’s strategy for connected intelligent vehicles, as revealed by BMW Group President Oliver Zipse at the signing ceremony with the local government.
It should be noted that BMW’s sales in China increased by 4.2% last year to 824,932 units, representing about one-third of the brand’s total global sales.
