BMW Will Build a $1.7 Billion EV Battery Factory In South Carolina

BMW says it will make batteries for its electric vehicles at a factory in South Carolina in the latest move by a major automaker to localize EV production in the United States. The Verge reports: The German company plans to invest $1.7 billion in the US, including $1 billion for EV production at BMW's Spartanburg plant and $700 million for a new battery-assembly facility in nearby Woodruff. By 2030, BMW says it will have at least six electric models in production in the US. Establishing a US-based EV plant will allow BMW's upcoming line of plug-in vehicles to qualify for the federal EV tax credit. BMW said it is partnering with Envision AESC on its plans for a dedicated battery plant in South Carolina. The Japan-based energy company will produce round lithium-ion battery cells specifically designed for BMW's next-gen EV platform. When it's completed, the battery factory will have an annual capacity of 30 gigawatt-hours (GWh). BMW has also announced plans to build EV production facilities in Europe and China to meet demand. The company currently has several electric models for sale, including the i4 sedan and iX SUV.

Read more of this story at Slashdot.