BMW starts production at new $2.2 billion China plant to ramp up EV output

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Reuters UK

SHANGHAI (Reuters) – Germany’s BMW said on Thursday that production has formally begun at a new plant in China with an investment of 15 billion yuan ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production. The Lydia plant, BMW’s third car assembly facility in China, located in the northeastern city of Shenyang, Liaoning province, will increase BMW’s annual output in the world’s biggest auto market to 830,000 vehicles from 700,0000 in 2021, the company said. The plant is designed to be capable of producing battery-powered electric cars only according to market demand on its…

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