International Outlook│BMW will increase power battery investment in Germany, investment will exceed 100 million euros in three years

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According to relevant media reports, BMW will expand its electric vehicle parts production capacity in Germany.

BMW, the automaker, will add a factory in Leipzig as a production base for high-voltage battery modules for BMW electric vehicles. In a statement on Wednesday, BMW said that by 2022, it will invest more than 100 million euros to produce batteries in Leipzig. BMW will also produce battery-powered i3 hatchbacks at the plant.

BMW's Dingolfing plant in Bavaria is currently the automaker's only battery assembly plant in Germany. Outside of Germany, BMW also produces battery components at plants in Spartanburg, South Carolina and Shenyang, China.

These factories assemble battery modules with batteries provided by external suppliers.

The automaker's goal is that by 2023, there will be 25 electric vehicles on the road, half of which will be fully electric.

The company said that as early as 2021, BMW is expected to have a quarter of the cars sold in Europe equipped with electric drives. By 2025, this proportion will reach one-third, and by 2030 it will reach one-half.