BMW Announced That It Would
Invest €1 Billion over the next 3 years into their Steyr, Austria power train plant to prep for electric vehicle production.
BMW Power Train Manufacturing
Facility since 1973 will now be converted to produce electric drive trains, what the brand calls its e-drive system.
The Plant Will Still Be
Producing gas and diesel power trains, they will have the goal of producing 600,000 e-drive systems by 2025
BMW Stated This Plant Very
Critical for their goal of producing two million electric vehicles globally by 2025 including their new i4 and iX models.
This Investment Follows
News that BMW would be working with Battery startup ONE Technologies on new battery chemistry technology
BMW Is Now Feeling the Pressure
To shift more quickly than they may have originally anticipated, due to EU's decision to ban Fuel Vehicles by 2035
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