Human beings boast a ton of notable traits, and yet the one that stands out the most is our trait of getting better on a consistent basis. This, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a unique member of the stated group. The reason why technology’s credentials are so anomalous is largely down to its skill-set, which realized all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, if we look beyond the surface, it becomes clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, like we discovered later, will go on to scale up the human experience from every conceivable direction, but even after realizing such a monumental achievement, technology will somehow continue to produce all the right goods. The same has only gotten more and more evident on the back of our recent progression, and a new development on the automotive block gives it every bit of chance to solidify its traces moving forward.
BMW has officially unveiled its plan to build a new EV manufacturing plant, which is expected to put the company back by a whopping $1 billion. Set to be located in Greer, South Carolina, the facility should help BMW’s plan to have at least six electric models in production across US by 2030, while also aiding its upcoming line of plug-in vehicles to qualify the company for federal EV tax credit. Apart from the EV production factory, the automotive giant is investing another $700 million in a new battery-assembly facility. For this one, the company has partnered with Envision AESC, who’ll manufacture round lithium-ion battery cells specifically designed for BMW’s next-gen EV platform. These battery cells are going to be installed in larger battery packs, and once that is duly completed, the stated packs will be shipped to the South Carolina facility for the eventual EV production. Staying on the battery cells bit, BMW, interestingly enough, claims that it is using a chemistry, which will actually increase the amount of energy they can store. According to certain reports, the increased storage will be matched by the plant’s annual capacity of 30 gigawatt-hours (GWh).
The move from BMW isn’t quite out of the left field, and if we are to tell you why, we can trace it all back to the introduction of Inflation Reduction Act, legislation that provides automotive companies with a a tax credit of up to $7,500 to subsidize their cost of manufacturing an electric vehicle. However, in order to avail the full incentive, the electric vehicle must be produced in the US, and it must contain a battery built in North America, with 40% of the metals mined or recycled on the continent. Hence, US seem well on course to have a high-end EV production infrastructure, but honestly, there is still a lot of work left to be done.