Punjab Chief Minister Bhagwant Mann meets with a BMW delegation in Munich, Germany
The efforts of Punjab Chief Minister Bhagwant Mann to rope in major investments from Germany bore fruit on Tuesday as leading auto giant BMW agreed to set up its auto part manufacturing unit in state, the state government said in a statement.
A decision to this effect was taken during Mr Mann's visit to BMW headquarters in Munich today.
However, BMW Group India later said it has no plans for setting up additional manufacturing operations in Punjab.
Mr Mann showcased the Punjab government's exemplary work to promote industry in the state after which BMW agreed to set up its auto component unit in state, the government said.
This will be the second unit of the company in India, after the one in Chennai. Mr Mann said the unit will give a major boost to industrial growth of Punjab and create jobs.
The Chief Minister invited BMW to collaborate with Punjab in the e-mobility sector. He was apprised that e-mobility is 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 under the leadership of Chairman of the Board of Management, BMW AG, Oliver Zipse.
The Chief Minister said his government has worked hard for the recently approved Punjab's electric vehicle policy. Mr Mann said Punjab's EV policy is expected to usher in a new era for the e-mobility sector in the state. He informed the BMW team how the state has succeeded in creating a pro-industry ecosystem and has emerged as the preferred investment destination in India for global brands.
The Punjab delegation was given a guided tour of the BMW museum and BMW group plant in Munich. The Chief Minister invited the BMW delegation to attend the Progressive Punjab Investors' Summit scheduled for February 23-24, 2023 to further this relationship and explore opportunities for collaboration.