Punjab will receive an auto components manufacturing facility from BMW

According to a state government announcement issued here on Tuesday, the German luxury vehicle manufacturer BMW has committed to locate its auto part manufacturing facility in Punjab.

During Punjab Chief Minister Bhagwant Mann's Tuesday visit to the BMW headquarters in Germany, a decision to this effect was made, according to the statement.

In an effort to attract investors, Mann is currently in Germany. His government is promoting Punjab as the best place to do business. BMW agreed to establish its auto component facility in the state after the CM demonstrated the state government's outstanding efforts to encourage industry during the visit, the report claimed.

This will be the company's second plant in India, as one such unit was previously functioning in Chennai, according to an official release citing Mann. He said that this will significantly accelerate the state's economic growth and create new job opportunities for young people.

The CM also invited BMW to work with the government on e-mobility initiatives. He was informed that the auto industry behemoth places a lot of emphasis on e-mobility and plans to have completely electric vehicles account for 50% of its global sales by 2030.

The state's e-mobility industry is predicted to enter a new age as a result of Punjab's EV Policy, according to the chief minister.