LONDON (AP) — German carmaker BMW will announce plans to build the next generation of electric Mini in Britain after winning British government backing for a multimillion-pound investment in the company’s Oxford factory.
The government on Monday confirmed its support for the project, which will protect 4,000 jobs. Although the Department for Business and Trade did not specify the level of taxpayer support, British media estimated the amount at 75 million pounds ($94 million). BMW is expected to release a statement later today.
The move is the latest boost for the British car industry, with carmakers announcing plans to invest more than 6 billion pounds ($7.5 billion) in Britain over the past two years. While car production rose 36% from a year earlier in July, output remains well below pre-pandemic levels.
British Prime Minister Rishi Sunak said the BMW investment is “another shining example of how Britain is the best place to build cars of the future.”
