BMW plans to invest around £500m (roughly R11bn) in its Oxford plant in the UK where it makes its Mini models, Sky News reported, citing unidentified people.
The investment will include a £75m (roughly R1.65bn) grant from the UK government’s Automotive Transformation Fund and will secure future production at the plant, according to Sky News.
BMW declined to comment on the report, but said the Oxford plant will produce the majority of next-generation Mini models.
Any new investment would mark a rare bright spot for auto manufacturing in the UK, where production slumped to a 66-year low in 2022. Mini announced late last year it was moving production of electric Mini vehicles to China as part of its partnership with GWM.
“With its high degree of flexibility, competitiveness and expertise, the Oxford plant plays an important role in the BMW Group’s production network,” a BMW spokesperson said in an email. “For the next Mini generation, Oxford will produce the majority of Mini models, the Mini Cooper three-door and five-door models, as well as the Mini Convertible — one of our most important vehicles and a worldwide best-seller. Any future production plans will be announced in due course.”
More stories like this are available on bloomberg.com
BMW plans £500m investment in UK Mini plant, report says
Image: Supplied
BMW plans to invest around £500m (roughly R11bn) in its Oxford plant in the UK where it makes its Mini models, Sky News reported, citing unidentified people.
The investment will include a £75m (roughly R1.65bn) grant from the UK government’s Automotive Transformation Fund and will secure future production at the plant, according to Sky News.
BMW declined to comment on the report, but said the Oxford plant will produce the majority of next-generation Mini models.
Any new investment would mark a rare bright spot for auto manufacturing in the UK, where production slumped to a 66-year low in 2022. Mini announced late last year it was moving production of electric Mini vehicles to China as part of its partnership with GWM.
“With its high degree of flexibility, competitiveness and expertise, the Oxford plant plays an important role in the BMW Group’s production network,” a BMW spokesperson said in an email. “For the next Mini generation, Oxford will produce the majority of Mini models, the Mini Cooper three-door and five-door models, as well as the Mini Convertible — one of our most important vehicles and a worldwide best-seller. Any future production plans will be announced in due course.”
More stories like this are available on bloomberg.com
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