Advertisement
Singapore markets open in 3 hours 31 minutes

  • Straits Times Index

    3,441.77
    -2.41 (-0.07%)
     

  • S&P 500

    5,436.44
    -27.10 (-0.50%)
     

  • Dow

    40,743.33
    +203.40 (+0.50%)
     

  • Nasdaq

    17,147.42
    -222.79 (-1.28%)
     

  • Bitcoin USD

    66,087.18
    -1,079.23 (-1.61%)
     

  • CMC Crypto 200

    1,347.63
    -22.86 (-1.67%)
     

  • FTSE 100

    8,274.41
    -17.94 (-0.22%)
     

  • Gold

    2,456.00
    +30.50 (+1.26%)
     

  • Crude Oil

    75.28
    -0.53 (-0.70%)
     

  • 10-Yr Bond

    4.1430
    -0.0350 (-0.84%)
     

  • Nikkei

    38,525.95
    +57.32 (+0.15%)
     

  • Hang Seng

    17,002.91
    -235.43 (-1.37%)
     

  • FTSE Bursa Malaysia

    1,611.94
    -12.62 (-0.78%)
     

  • Jakarta Composite Index

    7,241.86
    -7,288.90 (-50.16%)
     

  • PSE Index

    6,606.36
    -42.87 (-0.64%)
     

BMW to produce electric X3 model at South Africa plant

Reuters
·1-min read
The logo of German automaker BMW is seen in Brussels

(Reuters) - Germany's BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday.

"From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the world," Milan Nedeljkovic, Chairman of the Board of Management of BMW South Africa, said in the statement.

"With an investment of 4.2 billion rand (over 200 million euros), the Rosslyn plant will be enabled for electromobility," he added.

The Rosslyn plant currently produces the combustion engine 3 series, with a capacity of up to 75,000 units per year, according to its website.

Export destinations for vehicles produced at the plant include the United States, Taiwan, Japan, Singapore, New Zealand, Hong Kong, Australia, Sub-Saharan Africa and Canada.

($1 = 0.9135 euros)

($1 = 18.6591 rand)

(Reporting by Ozan Ergenay; Editing by Madeline Chambers)