BMW pours 400 million euros into Munich research centre
- Economy
- DPA
- Published Date: 12:00 | 06 October 2017
- Modified Date: 08:31 | 06 October 2017
German carmaker BMW said on Friday it is planning a massive expansion worth 400 million euros (470 million dollars) to its research and innovation centre (FIZ) in Munich.
The car manufacturer stated that the project, which should create 5,000 new jobs at the "FIZ Future" centre, will be finished in 2019.
A further 15,000 jobs will be created by 2050, BMW said.
"In the future, the next generations of electric vehicles and therefore the decisive technology for future mobility will be created here in Munich," said BMW chief executive Harald Krueger at a ceremony to lay the foundation stone.
With a focus on IT and artificial intelligence, "a new industry and a new generation of engineers and computer scientists will be born," he explained.
OTHER ECONOMY NEWS