By Cecilia Butini

Bayerische Motoren Werke AG said Friday that it would invest more than 2 billion euros ($2.08 billion) in building a high-voltage battery assembly at a vehicle plant in Debrecen, Hungary, by 2025.

The German auto maker said the site will be dedicated to vehicles of its Neue Klasse car line, and that the opening will create more than 500 new jobs by 2025. Having the new battery-assembly site next to the Debrecen vehicle plant is part of BMW's strategy to ensure short distance for logistics, the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

November 25, 2022 09:36 ET (14:36 GMT)

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