BMW to reveal Mexico factory plans this week

Germany's BMW will unveil this week plans to build a new factory in Mexico, a government official said, as the company seeks to meet growing demand for premium cars.

News of the factory comes just days after BMW's German rival, Daimler, announced similar plans, and adds to a growing list of companies plowing money into car making in Mexico.

A new factory in Mexico would come on top of BMW's plans to invest $1 billion to expand capacity by 50 percent at its plant in Spartanburg, South Carolina.

Source: Reuters