BMW invests in unit to build ultra-lightweight cars

Business News

Oct 29, 2009, 15:54 GMT

Munich - German carmaking company BMW and a partner said Thursday they will invest 90 million euros (133 million dollars) to make parts for ultra-lightweight cars out of carbon fibre, a material that is currently mainly used to make aircraft parts. Lighter cars would save fuel. BMW is planning a new-style light car range, the Megacity Vehicle, from 2015. Its joint venture with SGL Group, based in the German city of Wiesbaden, will build two factories, one in Germany and one in North America, to process carbon fibre and composite materials to make auto parts. Industry experts said it was the first big investment by a major car company in the material, which would replace sheet metal. The initial investment sum could be ramped up to 230 million euros if the idea proves a success, the two companies said. BMW's Megacity series is expected to appeal to environmentally aware buyers with options of an electric or fuel-burning engine. But the company said it had not yet been decided if the vehicle would have a carbon-fibre body. SGL Group is to own 51 per cent of the new venture and BMW, which will mainly be responsible for arranging its finance, 49 per cent.

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