BMW moves production to the US
Luxury carmaker BMW says it will invest $750m in US production. The news comes after the company announced major job losses in its home town of Germany.
The change of production strategy appears to reflect the impact of rising costs in Europe compared with the States, as the US dollar tumbles against the euro.
The investment at the American Spartanburg plant in South Carolina is aimed at increasing capacity from 160,000 to 240,000 units by 2012. It will create 500 new jobs.
"The boost in production capacity will positively impact the logistics, suppliers and distribution networks that support the manufacturing process," said Josef Kerscher, president of BMW Manufacturing.
The firm said the Spartanburg plant would produce the BMW X3, X5 and X6 models for international markets.
Image: BMW's Spartanburg plant in America will build the X6 for international markets