BMW plans to invest another $600 million in its Spartanburg, S.C., assembly plant -- its largest single source of light-vehicle production worldwide -- between 2018 and 2021. The expansion will create an additional 1,000 jobs at the plant by the end of that period.
Continental will join a self-driving platform developed by BMW Group, Intel and Mobileye with the supplier handling integration of components and software. Continental said it would play a key role in commercializing the new platform, which is to be sold to other auto manufacturers.
Magna International's Magna Steyr unit will build BMW's new 5-series plug-in hybrid at its Austrian factory. Magna sees contract manufacturing of electrified vehicles as a "near-term opportunity" as automakers invest heavily in fully-electric and gasoline-electric hybrid vehicles.