BMW will adhere to investment plans for Mexico

BMWGerman carmaker BMW Group will adhere to its investment plans for Mexico and the United States, despite the warnings from the US President Donald Trump, who threatened to impose large taxes on cars imported into the United States. Last month, BMW announced plans to invest 1 billion USD in building of new plant in Mexico for its car BMW 3-Series, despite of threats of Trump.

“We need to free world trade”, said CEO of Bavarian concern Harald Krueger, during road Congress CAR-Symposium in Bochum. “BMW will continue to invest in its plant in Spartanburg, USA, its biggest enterprise in the world”, added he.

BMW exported 70% of the annual production of its US factory, which makes it the largest net exporter of the country.

In the factory are produced crossovers X3, X4, X5 and X6. The company is currently performing capacity expansion to be readily available for production of the new SUV X7 and to increase its annual capacity from from 400,000 to 450,000 units.

Last month Donald Trump threatened that the US would impose a border tax of 35% on imported cars.

The three leading automobile companies in Germany – Volkswagen Group, Daimler and BMW, have invested heavily in Mexico, where production costs are lower than in the US.