Mar 17th, 2008 by RJ Menezes
BMW AG announced this week that the company was investing an extra $750 million dollars on it’s Spartanburg, South Carolina manufacturing facility. The investment was made to enable the German car maker to produce another 90,000 vehicles a year exclusively for the U.S. market.
As the euro becomes more and more of an issue, and the dollar continuous to weaken, car makers must come up with more efficient solutions to offset the problem of rising costs with the ever worsening exchange rates. To this end, BMW is planning on hiring 500 new employees for it’s South Carolina plant which produces mainly BMW’s SUV offerings, the X5 and X3, but also the Z4 sports car. This will allow the Munich based auto maker to up production from 150,000 to about 240,000 units a year.
The weakness of the dollar threatens to force overseas car makers to change something or raise prices. BMW hopes by shifting more of it’s core production to their U.S. plant it can offset some of those problems. This is a good thing, as the last thing BMW needs is an excuse to raise their already lofty car prices.
Above: BMW’s sporty X5 SUV is one of the models currently in production at the company’s U.S. plant..
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