BMW Invests 1 Billion Euros in Production for Revamped 3-Series

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

To contact the reporter on this story: Chris Reiter in Berlin at creiter2@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net