BMW to expand European footprint with $ 1.2bn Hungary plant

By Oliver Sachgau and Marton Eder

MUNICH, 31 July. - (ANA) - BMW AG is investing 1 billion euros ($1.17 billion) in a new assembly plant in Hungary, its first factory in Europe in nearly two decades as the luxury-car maker strengthens its European footprint amid growing protectionism.

The plant will produce 150,000 vehicles a year, making both electric and combustion engine vehicles, the Munich-based carmaker said Tuesday in a statement. It’ll be BMW’s first new carmaking facility since 2000, when it decided to construct a site at Leipzig, a spokesman said, declining to confirm which models it’ll produce in Hungary.  - (ANA) -

AB/ANA/31 July 2018 - - -