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.
A decision to this effect was taken during the visit of Chief Minister in BMW headquarters here today.
During the visit, Chief Minister showcased Punjab government’s exemplary work to promote industry in the state after which BMW agreed to set up its auto component unit in state. Buoyed over it Bhagwant Mann said that this will be the second unit of the company in India as already one such unit was operational in Chennai. He said that this will give a major boost to industrial growth of the state and open new vistas of employment for youth.
The Chief Minister also invited BMW to collaborate with the state in the E-Mobility sector. He was apprised that E-Mobility is a major sector of focus for the auto giant which targets 50% 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. Bhagwant Mann during detailed discussions with Vice President of Government Affairs and Marketing Communication for BMW Group entities in the Americas, Asia-Pacific and Africa, Glenn Schmidt, Head of Communications & Governmental Affairs Asia & Pacific Manfred Grunert and Senior Advisor Corporate and Governmental Affairs for BMW, Dr. Joachim Domosky, emphasised on Punjab Government’s commitment to a sustainable future.
The Chief Minister said that his government has worked hard at recently approved Punjab’s Electric Vehicle Policy. Bhagwant Mann said that Punjab’s EV Policy is expected to usher in a new era for the E-Mobility sector in Punjab. He also 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 and organizations.
The Punjab delegation was given a guided Tour of BMW Museum and BMW Group Plant in Munich. The Chief Minister also invited BMW delegation to attend the Progressive Punjab Investors’ Summit scheduled for February 23-24, 2023 to further this relationship and explore opportunities for collaboration.