BMW has reached an agreement with the UK government to produce the next generation of electric Mini cars in the United Kingdom. This deal involves a significant investment in modifying BMW’s existing plant in Oxford, which is expected to safeguard approximately 4,000 jobs, according to government ministers.
While specific details of the financial support provided by the British government to BMW have not been disclosed, it has been reported previously that the amount could be around £75 million. UK Prime Minister Rishi Sunak stated that the government’s support is aimed at preserving jobs and boosting the country’s economy by supporting the car manufacturing industry.
Rishi Sunak remarked, “BMW’s investment is another shining example of how the UK is the best place to build cars of the future.”
The initial generation of Mini electric models was launched at BMW’s Oxford facility in 2019, but the company had previously announced plans to manufacture the majority of its electric vehicles in China.
UK Chancellor Jeremy Hunt emphasized that BMW’s investment represents a substantial vote of confidence in the UK as a global leader in electric vehicles.
The British government has been actively promoting initiatives to attract car manufacturers to invest in and produce their electric models in the UK.
Just two months ago, Tata from India committed to investing £4 billion in an electric vehicle battery plant in the UK, primarily to supply its Jaguar Land Rover factories.
Furthermore, electric vehicle production has commenced at Stellantis’s Ellesmere Port factory following a £100 million investment.
Recent figures from the Society of Motor Manufacturers and Traders indicate that the UK’s car production has been on the rise, with August production nearly one-third higher compared to the same month the previous year.