BMW Wants To Give You 7,500 More Reasons To Buy An Electric SUV

BMW has confirmed that it will build six new electric vehicles at Plant Spartanburg, North Carolina. The first of these new offerings, a fully electric Sports Activity Vehicle, will be produced in the United States in late 2026. Five additional EVs will follow before 2030.

Depending on pricing, BMW will be able to take advantage of the $7,500 tax credit incentive available for locally-built electric cars. This would provide the German automaker with an advantage in the luxury car class. Currently, very few luxury SUVs qualify for the incentive, although premium rivals that do include the base Tesla Model X, the Acura ZDX, and the Cadillac Lyriq.

An American-Made BMW Electric SUV? You Better Believe It

An electric BMW SUV would make the German brand even more competitive in the growing EV segment. Even though the automaker offers just four battery-electric cars in the United States, BMW is one of the most successful EV makers in terms of sales. In March, the manufacturer shifted 4,246 electric cars in the USA, which is no mean feat for a luxury brand. With a potential incentive slashing $7,500 off the price tag of a BMW electric SUV, the automaker’s market share will only blossom.

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BMW has yet to comment on which electric SUV it will build at the Spartanburg facility. It’s most likely to be the upcoming Neue Klasse SAV, a concept revealed earlier this year. It previews the upcoming iX3, the all-electric companion to the fourth-generation X3 crossover. While pricing is yet to be announced, let’s use an existing model as an example. If the entry-level i4 eDrive35 ($52,200) were available with the incentive, customers would be on the hook for $44,700 – less than a gas-powered 4 Series Gran Coupe.

An Incentive Could Give BMW A Competitive Advantage

If BMW can pull a similar pricing trick with the upcoming electric SUV, it can offer a modern EV for the same price (or less) as its ICE-powered companion. The BMW Group is already making preparations for the newcomer. High-voltage sixth-generation batteries will come from an assembly plant in Woodruff. Between then and now, production of the fourth-generation X3 will commence at the US-based factory.

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The plant produced 416,301 vehicles worth $9.6 billion last year.

The German automaker has also invested over $200 million to construct the new 215,000 sq ft press shop at the facility. After two years of construction and the creation of 200 new jobs, the new press shop will be able to produce and stamp body parts for the cars it produces. First produced at Plant Spartanburg in 2010, BMW has produced more than 1.7 million X3s in the last 14 years. With the latest model, it will likely break the two-million barrier.