BMW (ETR:BMWG_p) revealed Monday that the German automaker will invest £600 million ($750 million) into its UK plants with the goal of fully electrifying their Mini brand by 2030.
Starting in 2026, BMW’s Mini brand will make two electric models at its plant in Oxford - the Mini Cooper 3-door and the compact crossover Mini Aceman.
According to BMW production chief Milan Nedeljkovic, the Mini plant will be dedicated solely to EV production starting in 2030. Many of those vehicles will be exported to markets around the world.
Addressing reporters in Oxford, Nedeljkovic expressed the company's intention to incorporate European-manufactured batteries into the upcoming Oxford-produced models. However, he refrained from specifying whether these batteries would be sourced from the UK, emphasizing that the decision hinges on the market appeal for their suppliers.
Also speaking in Oxford, British business minister Kemi Badenoch said: "We want auto manufacturing not just to stay in the UK, but to be the best in the world, and this is part of that story."
Nedeljkovic also revealed that BMW will be investing in its Swindon plant, responsible for producing parts for Mini models. As for the engine plant located near Birmingham in Hams Hall, Nedeljkovic mentioned that it's too early to determine its future direction.