BMW AG (Frankfurt: BMW) will increase Mini production in a big way with a £250 million ($387 million) investment over three years in UK manufacturing, the BBC reported Monday.
BMW previously invested £500 million last summer, according to the BBC, and UK production of Mini brand cars employs over 5,000 workers in Oxford, Birmingham and Swindon. The UK is BMW's fourth-largest global market, and the company said the investment was part of a broader international growth strategy.
In the meantime, though, before UK production capacity fully expands, BMW is considering contracting with a Dutch company for Mini manufacturing, according to the BBC.
BMW AG (Frankfurt: BMW) shares rose slightly to €56.44 ($69.26) Monday.