Germany-based automotive giant BMW has officially opened a new $2.2bn (14.73bn yuan) factory in China, which will largely focus on the production of electric vehicles (EVs).
Located in Shenyang, the Lydia plant will increase BMW’s annual production capacity in China from 700,000 vehicles in 2021 to 830,000. The first model produced at the site will be the i3, a pure electric mid-sized sports sedan, increasing the range of BMW EV models available in the country to 13.
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The Lydia plant is BMW’s third in the country alongside sites in Tiexi and Dadong. It represents the company’s single biggest investment in China to date.
In a press release, Jochen Goller, president of BMW in China, commented: “The expansion of our production footprint in China shows we are preparing for further growth in the world’s largest electric car market and are confident in China’s long-term perspectives. We are stepping up our e-mobility efforts, aiming for more than a quarter of our sales in China to be all electric by 2025.”
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By GlobalData
