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Oct. 14 (Bloomberg) -- Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, is investing more than 1 billion euros ($1.4 billion) in production of the overhauled 3-Series model.
The entry-level sedan, which debuted today in Munich, will be built at two factories in Germany and one in South Africa, the manufacturer of BMW, Mini and Rolls-Royce models said in a statement.
BMW’s best-selling car will reach markets worldwide on February 11 and will start at 35,350 euros for the diesel- powered 320d, 1,050 euros more than the current version. BMW plans a hybrid variant from the fall of 2012.
“The new BMW 3-Series has excellent prospects for expanding its leading global market position,” Chief Executive Officer Norbert Reithofer said in the statement.
--Editor: Chad Thomas
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