BMW to Invest EUR200 Million in Battery-Cell R&D Center
By Max Bernhard
Bayerische Motoren Werke AG (BMW.XE) said Friday it plans to invest 200 million euros ($236.8 million) in a research-and-developement center in order to advance battery-cell technology and introduce it into its production processes.
The Bavarian car maker plans to open the new competence center in Munich in early 2019 and create 200 jobs.
"We will focus on further improvements in battery performance, lifespan, safety, charging and also costs," said Klaus Froehlich, member of the board of management of BMW, responsible for research and development.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
November 24, 2017 06:40 ET (11:40 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.