June 25, 2014 / 8:39 AM / 4 years ago

BMW to decide on location of new factory before summer break

MUNICH, June 25 (Reuters) - BMW is still deliberating on where to locate a new factory but will reach a decision before the summer break, Chief Executive Norbert Reithofer said at an industry event on Wednesday.

BMW wants to expand its global production capacity and is considering locations in countries that are signatories to the North American Free Trade Agreement, an area that includes the United States, Canada and Mexico.

BMW said in March it will ramp up annual production capacity at its U.S. factory in Spartanburg, South Carolina to 450,000 vehicles by 2016, in a move that cuts the manufacturer’s dependence on fragile European markets. (Reporting by Irene Preisinger; Writing by Edward Taylor; Editing by Maria Sheahan)

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