German BMW to invest USD1 b in its factories
(MENAFN) German automaker BMW will invest as much as USD1 billion over the following 2 years to increase output of its X-series all-wheel drive SUV vehicles, according to Oman Observer
Chief Executive Norbert Reithofer said: "This will increase annual production capacity by 50 per cent up to 450,000 vehicles from 300,000 currently.
BMW is launching production at the facility of the X4 model, and will also build the X7 at the plant. It also has plans to build a plug-in hybrid X5 at the factory
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