BMW to invest £600m in Oxford Mini plant

(Sharecast News) - BMW is expected to announce a £600m investment to upgrade its Oxford Mini factory following the UK government's backing of the project. The Department for Business and Trade is said to be giving £75m in subsidies to the German auto titan to develop its two new electric Mini models: the Cooper and the Aceman crossover SUV.

The move is expected to save 4,000 jobs across the Cowley site in Oxfordshire and another in Swindon, after BMW had previously announced plans to completely shift electric vehicle manufacturing to China.

"BMW's investment is another shining example of how the UK is the best place to build cars of the future," prime minister Rishi Sunak said in a statement.

Mini is expected to go fully electric by 2030, and has been producing electric vehicles at Cowley since 2019.

BMW is expected to confirm the decision later day.