BMW to set up auto parts plant in Punjab

Chandigarh, September 13

Germany’s luxury carmaker BMW has agreed to set up its auto parts manufacturing unit in Punjab, said a state government release here on Tuesday.

A decision to this effect was taken during the visit of Chief Minister Bhagwant Mann at the BMW headquarters in Germany on Tuesday, it said.

Mann is currently on a visit to Germany to woo investors as his government promotes Punjab as the most preferred destination for doing business. During the visit, the CM showcased the state government’s exemplary work to promote industry in the state after which BMW agreed to set up its auto component unit in the state, it said.

An official release quoting Mann said this would be the company’s second plant in India as one such unit was already operational in Chennai.

He said this would give a major boost to industrial growth of the state and open new employment avenues for the youth. The CM also invited BMW to collaborate with the state in the e-mobility sector.

He was apprised that

e-mobility was a major sector of focus for the auto giant, which targets 50 per cent of its global sales to consist of fully electric vehicles by 2030.

The CM said Punjab’s EV policy was expected to usher in a new era for the e-mobility sector in the state.

Meanwhile, Mann today solicited the support of leading German company BayWa to address the key issues of climate change, irrigation, yield forecast, harvest progress analysis, assessment of climate change and impact on farm production to validate investment plans in the state.

He called on BayWa’s designated CEO Marcus Pöllinger; CEO, Vista, Dr Heike Bach; and senior vice-president IT development, BayWa Group, Tobias Horstmann during his tour to Munich.

A government spokesperson said the CM apprised the company representatives that Punjab wants to upgrade farm activities to ensure that farmers of the state are immensely benefitted from it.

Inviting BayWa to establish their operations in Punjab, he said the state’s political stability, strong connectivity, liberal and pro-industry policies, clean and healthy environment coupled with high-quality of life were key advantages for industry. — PTI/