BMW to set up part manufacturing unit in Punjab

German luxury car manufacturer BMW has agreed to set up a part manufacturing unit in Punjab. A decision to this effect was taken during the Chief Minister's visit to the BMW headquarters in Germany. Mann said this will be the second unit of the company in India as already one such unit was operational in Chennai.

Mann is currently on a visit to Germany to woo investors as his government promotes Punjab as the most preferred destination for doing business. During the visit, Mann showcased Punjab government’s work to promote industry in the state after which BMW agreed to set up its auto component unit in the state.

He said that BMW’s move will give a major boost to industrial growth of the state and open new vistas of employment for youth. The CM also invited BMW to collaborate with the state in the e-mobility sector.

He was apprised that e-mobility is a major sector of focus for the auto giant, which targets 50 per cent of its global sales to consist of fully electric vehicles by 2030 under the leadership of Chairman of the Board of Management, BMW AG, Oliver Zipse.

The chief minister said Punjab's EV Policy is expected to usher in a new era for the e-mobility sector in the state.