BMW Chief Says U.S. Presence Strategically Crucial
MUNICH, GERMANY – BMW’s chief executive officer told shareholders that maintaining the automaker’s presence in the South Carolina was not a knee-jerk reaction to the strong euro but a long-term strategy
MUNICH, GERMANY – BMW’s chief executive officer told shareholders that maintaining the automaker’s presence in the South Carolina was not a knee-jerk reaction to the strong euro but a long-term strategy, according to www.charleston.net. Earlier this year, the automaker announced it would take advantage of the weak dollar by expanding production at its only North American plant, near Spartanburg.
The plan calls for spending $750 million on facilities for its X5 SUV and the new generation of its X3 SUV to boost output from the current 160,000 vehicles a year to 240,000 annually by 2012. By building the cars in the United States, BMW also can save money on wages, since its South Carolina workers earn less than German workers.
BMW imported
about 100,000 German-made vehicles through the Port of
Charleston last year and shipped out roughly as many South Carolina-made models.
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