BMW plans $1B investment at SC plant

Mar 28, 2014 | 05:23 PM | Jo Isenberg-O’Loughlin

Tags  BMW, autos, steel, investment, plant expansion, Spartanburg, S.C., Dr. Noebert Reithofer Penny Prtikzer

NEW YORK — BMW AG executives announced plans March 28 to invest $1 billion between 2014 and 2016 in the luxury automaker’s Spartanburg, S.C., plant.

"This will allow Spartanburg to increase its capacity to 450,000 cars per year," Norbert Reithofer, chairman of Munich, Germany-based BMW, told an audience at the plant, about 80 miles west of Charlotte, N.C.

"This means 50 percent more than today, and these 150,000 additional cars is equal to a whole new plant," Reithofer told the audience, which included U.S. Commerce Secretary Penny Pritzker and South Carolina Gov. Nikki Haley. "More importantly, Spartanburg will become the largest plant in our global production network, marking a new milestone in the history of the BMW Group."....

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