Photo: Lance Anderson
German automaker BMW is set to produce electric Mini cars at Cowley, Oxford plant after multimillion-pound funding grant from UK government and internal £600 million investment.
The plant will kick off production of the electric Mini models and the new electric Mini Aceman crossover SUV with the help of a £75 million grant of taxpayer funds from the UK government, the Financial Times reported.
Business and trade secretary, Kemi Badenoch, said:
“This decision is a big vote of confidence in the UK economy and the work of this Government to ensure the continued strength of our world-leading automotive sector.
“We are proud to be able to support BMW Group’s investment, which will secure high-quality jobs, strengthen our supply chains and boost Britain’s economic growth.”
By 2030 production volume of plant aims to be exclusively electric and the BMW Group will have spent more than £3 billion combined on its Swindon, Hams Hall, and Oxford plants since 2000.
BMW reported that the factory will reach a production capacity of around 200,000 cars per year in the medium term, with ICE and battery electric vehicles (EVs) initially being built on the same production line. From 2030, the Oxford Plant will produce all-electric MINI models exclusively.
BMW’s investment follows the announcement of a £4 billion Somerset gigafactory from Tata Motors and their commitment in the UK to supplying electric batteries. Nissan and AESC also recently announced another £1 billion investment into an EV manufacturing hub in Sunderland.
Rishi Sunak said that BMW’s latest investment in the Oxford plant was “another shining example of how the UK is the best place to build cars of the future”.
