Watch: BMW to build 1-billion euro electric car factory in Hungary
Authored By Wion Web Desk
Published: Jul 30, 2018, 23:05 IST | Updated: Jul 30, 2018, 23:05 IST
Construction near the town Debrecen, about 124 miles east of Budapest, will start in the second half of 2019.
Story highlights
The plant will produce about 150,000 vehicles a year. They will produce both electric and combustion engine vehicles, reports said.
BMW on Monday said it is going to invest 1-billion euros (US $1.17 billion) in a new car factory in Hungary which will be capable of building electric cars.
This will be its first plant in Europe after almost two decades as the luxury-car maker to strengthen its hold in the country, reports said.
The plant will produce about 150,000 vehicles a year. They will produce both electric and combustion engine vehicles, reports said.
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Reports also said that BMW will create more than 1000 jobs with the creation of this plant.
Construction near the town Debrecen, about 124 miles east of Budapest, will start in the second half of 2019.
BMW said it will help the carmaker to expand its manufacturing capacity in Europe, where 45 per cent of its cars are sold.
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