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BMW announces 1 billion eur investment in Austrian Steyr plant by 2030

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FILE PHOTO: The BMW logo is seen during the 2016 New York International Auto Show in Manhattan, New York
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BERLIN (Reuters) - German carmaker BMW announced on Monday a 1-billion-euro ($1.05 billion) investment in its Steyr plant in Austria by 2030, where it plans to produce its next-generation e-drives starting from 2025.

The site's annual capacity is set to grow to over 600,000 units, BMW said in a statement.

The sum is set to include an investment of around 710 million euros in production, it added.

($1 = 0.9499 euros)

(Writing by Rachel More; Editing by Riham Alkousaa)

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