German carmaker BMW announced on Monday a €1bn (roughly R16,798,677,000) investment in its Steyr plant in Austria by 2030, where it plans to produce its next generation e-drives starting from 2025.
The site's annual capacity is set to grow to more than 600,000 units, BMW said in a statement.
The sum is set to include an investment of around €710m (roughly R11,958,806,900) in production, it added.
BMW announces €1bn investment in Austrian Steyr plant by 2030
Image: Supplied
German carmaker BMW announced on Monday a €1bn (roughly R16,798,677,000) investment in its Steyr plant in Austria by 2030, where it plans to produce its next generation e-drives starting from 2025.
The site's annual capacity is set to grow to more than 600,000 units, BMW said in a statement.
The sum is set to include an investment of around €710m (roughly R11,958,806,900) in production, it added.
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