BMW announced on Friday that it will be investing $565 million in its Leipzig, Germany plant over the next three years to produce its forthcoming
Megacity Vehicle EV. The announcement marks BMW's first German plant to be capable of mass producing an electric vehicle.
BMW will invest $565 million into its existing Leipzig plant leading up to the Megacity Vehicle's 2013 launch. The investment will go towards new buildings and machinery, creating 800 new jobs in the process.
"By producing the Megacity Vehicle in Germany the BMW Group is demonstrating a clear commitment to Germany as a high-tech location. With this vehicle we are revolutionizing automotive design and production, and offering our customers the first purpose-built electric vehicle for urban areas. This will be the world's first volume-produced car with a passenger compartment made from lightweight CFRP, as less weight enables a longer range," said Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG.
Although most of the Leipzig plant's upgrades will be in anticipation of Megacity production, BMW plans to produce an electric version of its 1-Series - dubbed the ActiveE - at the plant as soon as 2011.
