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German automaker BMW is ramping up production of electric vehicles in China as it looks to catch up with leaders Tesla and domestic rivals like BYD. The new plant in Shenyang is BMW’s third in China and brings its annual production capacity in the country to 830,000 cars.
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BMW has officially opened its new 15 billion yuan ($2.2 billion) factory in China with a strong focus on electric vehicles as it tries to catch up with leaders Tesla and domestic competitors.
Plant Lydia in the northeastern city of Shenyang is BMW’s third plant in China but its single biggest investment in the country.
The factory’s capacity can be used solely for making electric vehicles as…
Source cnbc.com
