BMW Invests $270M to Expand U.S. Operations
MUNICH, GERMANY- BMW, the world’s largest premium carmaker, is investing $270 million toexpand its U.S. operations. BMW sold 336,000 vehicles last year in the United States —an increase of 7.1 percent and accounting for roughly 22 percent of total groupsales.
“Theseinvestments show that we are convinced of the continued long-term growth of the U.S. market despite the difficult economic conditions currently,” BMW sales chief IanRobertson said in a statement, according to www.reuters.com.
In orderto better cope with the growing volumes and the resulting need for more spareparts, BMW will invest by the end of this year $170 million in two new partsdistribution centers in Pennsylvania and Illinois. Once built thecarmaker will have six centers in the United States.
It isalso spending $100 million to expand its U.S.headquarters in
Woodcliff Lake, N.J., where roughly 1,000 peoplewill be employed in total.
BMW alsosaid it is investing $750 million to expand production capacity in its U.S. plant in Spartanburg, S.C.,where it will eventually assemble its X3, X5, and X6 range of SUVs. By 2012,the plant will be able to build 240,000 units as opposed to the current160,000.