German multinational company which produces luxury vehicles and motorcycles “BMW” on Wednesday said that it will modernize its German factories to build electric cars and components and shift manufacturing of combustion engines to plants in Austria and England as part of a broader shift toward low-emission cars.
Moreover, factories around the world are calling for investment in next-generation cars because electric vehicles are gaining traction with consumers and the government is accelerating the demise of the combustion engine.
On Wednesday, Germany disclosed a 3 billion euro (3.56 billion dollars) scheme to promote low-emission cars and Britain said it will ban the sale of new petrol and diesel cars and vans from 2030.
In a statement, BMW’s board member responsible for production, Milan Nedeljkovic said that by the end of 2022 all our German factories will make at least one fully electric car and the BMW’s plant in Munich, which currently manufactures four, six, eight and twelve-cylinder combustion engines, will be reorganized with an investment of EUR 400 million until 2026, to manufacture next-generation electric vehicles.
The World’s twelfth-largest producers of motor vehicles ‘BMW’ said the production of eight and twelve-cylinder engines will move from Munich to Hams Hall in England, and other engines will be made in Steyr, Whereas the number of staff at its Dingolfing factory making electric automobile powertrains, will double to 2000 workforces.
Besides, the BMW i4 electric automotive will be manufactured in Munich, an entirely electric version of the 5 and 7 series will be manufactured in Dingolfing and an electric X1 will be installed in Regensburg.
Lastly, the company said it will boost its cost structure by 500 million euros by the end of the year.