BMW will Invest Nearly $860 in Mexico Battery Plant

BMW will Invest Nearly $860 in Mexico Battery Plant

BMW will Invest Nearly $860 in Mexico Battery Plant to Help Build its NEUE KLASSE EV.

­BMW is going south of the border to help with its goal of making 50% of its car sales EVs by 2030 – the German automaker announced an $858 million investment to build out its EV/battery factory in San Luis Potosí, Mexico.

Specifically, the plant will help produce the EV version of BMW’s NEUE KLASSE (“new class”), based on the famous line of sedans and coupes produced from 1962-1977.

In that earlier case, the NEUE KLASSE helped stabilize BMW financially in a post-WWII landscape where the nation was literally divided between capitalism and communism.

The contemporary version should buoy the brand on the path towards electrification.

According to BMW's chief technology officer, Frank Weber, the NEUE KLASSE EV represents a "huge technology leap,” with batteries offering 20% higher energy density, 30% better packaging efficiency, up to 30% more range, and up to 30% quicker charging than contemporary BMW batteries.

"The combination of an 800V system and a high-performance charger increases the range every minute by 30 miles to a maximum of 375 miles," Weber said.

The EV will feature from 268 up to 1,341 horsepower, with up to four electric motors.

The San Luis Potosí plant currently manufactures three gas-powered BMW vehicles, and with the $858 million investment, BMW will apparently create 1,000 new jobs for its new battery assembly plant.

The NEUE KLASSE will begin overall production in a couple years.

“The first cars of the NEUE KLASSE will come off the production line at our plant in Debrecen, Hungary, starting in 2025, followed by the main plant in Munich,” said Milan Nedeljković, member of the Board of Management of BMW AG responsible for Production. “We will achieve additional volumes by integrating the NEUE KLASSE at Plant San Luis Potosí from 2027 onwards.”