BMW Group to invest USD1.05 billion to prepare Steyr plant to produce electric drives

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The strategic transformation of the Steyr plant also entails establishing a new organizational area for the production of electric drives

German luxury carmaker BMW Group plans to prepare its component manufacturing unit in Steyr to produce electric drives in addition to diesel and petrol engines from 2025, the company announced on 2 December 2022. To this end, BMW plans to invest around EUR1 billion (USD1 billion) on its Steyr facility by 2030, it said.

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