BMW Group said over the weekend that it would review its timeline for manufacturing all-electric Mini vehicles in Britain.
In 2023, the auto maker had said it planned to invest 600 million pounds in the UK in order to make its Mini brand fully-electric by 2030 – with production slated to begin in Oxford in 2026.
“Given the multiple uncertainties facing the automotive industry, the BMW Group is currently reviewing the timing for reintroducing battery-electric Mini production in Oxford,” the company said in a statement, cited by Reuters.
The auto maker said construction in Oxford was underway “to make the plant future-ready”, but it had informed the UK government of its decision to review the timetable.
Stock Performance
The shares of Bayerische Motoren Werke AG (BMW) were last gaining 1.91% (EUR 1.58) to trade at EUR 84.16 in Frankfurt on Monday.
The luxury auto maker’s total market cap now stands at EUR 52.118 billion.
The company’s shares have risen 6.94% so far this year.
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