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Vacant

In: Business and Management

Submitted By hongshengivy
Words 532
Pages 3
Response of news “BMW plans $1b expansion in South Carolina”
Greer plant to make 450,000 vehicles a year by 2016, becoming the largest of the company’s 28 plants around the world
Published: 15:04 March 29, 2014 Gulf News
“Greer, South Carolina: BMW is celebrating its 20th anniversary of building cars in the United States by investing $1 billion (Dh3.67 billion) in its plant in South Carolina to build two of its new X-series vehicles at the facility that ushered in a wave of foreign automakers building Southern plants.
The German automaker announced Friday it will produce the X7, a larger SUV with three rows of seats similar to a Cadillac Escalade. The company will also make the X4, a sportier version of the X3 coupe and plans to build a plug-in hybrid version of its smaller X5 SUV.
The $1 billion will be spent through 2016 at the plant in Greer, a town in the foothills of the Blue Ridge Mountains. BMW said it will hire 800 additional workers, bringing total employment at the plant to 8,800 people. The Greer plant will make 450,000 vehicles a year by 2016, becoming the largest of the company’s 28 plants around the world.”
According to this news, I just realized BMW using the innovation strategy that attract more people to make more money. Moreover, it shows the importance of innovation in automobile industry.
I did research as followed.
Innovation in the global automotive industry is intensifying. * Fourteen automakers are among the top 50 most innovative companies in BCG's 2013 survey, compared with 10 carmakers in 2012 and only five in 2005. Three companies (Toyota, Ford, and BMW) rank in the top 10, and nine automakers are in the top 20. For the first time since BCG began conducting this survey nine years ago, there are more auto manufacturers than consumer companies in the top 50 and more carmakers than technology companies in the top 20. *…...

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