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BMW Plans $2.8 Billion China Factory Update to Boost EV Production

By Jiahui Huang


BMW will invest $2.76 billion to adapt one of its major Chinese factories to produce more electric vehicles, part of plans to roll out its newest full-electric offerings in the world's largest EV market.

The German automaker will spend 20 billion yuan ($2.76 billion) on its plant in Shenyang, China, to ready it to produce its coming Neue Klasse series electric-vehicle models, with production targeted for 2026.

BMW, which partners with state-run Brilliance China Automotive to make and sell its cars in China, didn't say which models under the series would be produced at the Shenyang plant.

BMW has flagged the Neue Klasse series for several years as advanced architecture for a new generation of EVs, saying it plans to debut the series in 2025 and eventually produce at least six models.

Like other traditional automakers, BMW is seeking to adapt to the rising popularity of EVs--especially in China, where EV demand this month outpaced that of traditional vehicles for the first time.

Last year, BMW's auto deliveries in China rose 4.1% to 826,257 units, most of which were combustion-engine vehicles. EVs made up 15% of its total deliveries globally in 2023, up from 9.0% a year earlier.

The Neue Klasse series was launched in the 1960s, marking the company's successful attempt to survive its financial crisis and compete with rivals like Volkswagen and Mercedes-Benz Group.


Write to Jiahui Huang at


(END) Dow Jones Newswires

April 29, 2024 04:55 ET (08:55 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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