BMW plans to invest $1.7 billion in the US to produce electric vehicles

The BMW Group plans to invest $1.7 billion in its US operations to manufacture electric vehicles and batteries.

Let us tell you that the company announced this on Wednesday.

Let us tell you that in this investment, $ 1 billion for the production of EVs at BMW's South Carolina plant.

It will also include $700 million for a new battery-assembly facility in the state.

Let us also tell you that BMW also announced a deal to buy battery cells from Japan-based Envision AESC,

Who will build a new battery cell factory in South Carolina.

The German automaker hopes to produce at least six fully electric models in the US by 2030.

The Spartanburg facility, where the investment was announced,

BMW currently produces two plug-in hybrid electric "X" SUVs and lithium-ion battery modules for its two plug-in hybrid electrics.