BMW to invest $900m in South Carolina plant

BMW on Thursday announced it will invest about $900 dollars in its South Carolina operations, in response to strong demand for its X series vehicles. "We plan to invest over the next three years nearly $900 million in the Spartanburg plant by 2014," said board member Frank-Peter Arndt. The investment will lead to the creation of 300 jobs, according to the statement. "This will allow us to produce 350,000 units in Spartanburg in the mid-term," he added. Current capacity at the plant is 275,000. The BMW Group said it had already invested $750 million in the expansion of the plant for production of the new BMW X3 between 2008 and 2010.