BMW goes full throttle on EVs; Tesla's game changer: This week in EVs

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Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: BMW electrifies Mini; Tesla on the cusp of a breakthrough; and UAW strikes back.

As always, InvestingPro users got these headlines at lightning speed. Never miss another opportunity to secure an edge for your portfolio.

In a bid to fully electrify its Mini brand by 2030, BMW (ETR:BMWG) (OTC:BMWYY) announced a substantial investment of £600 million (£1 = $1.24) into its UK manufacturing plants, and BMW's Mini brand will produce two electric models — the Mini Cooper 3-door and the compact crossover Mini Aceman — at its Oxford plant starting in 2026.

BMW said the Oxford plant will transition to exclusive EV production by 2030, with many of these vehicles destined for international markets.

The company also expressed a commitment to incorporate European-manufactured batteries into these forthcoming models but left the supplier decision open, emphasizing that it hinges on market appeal.

This investment underscores BMW's determination to electrify its offerings, as well as the growing importance of EVs in the automotive landscape.

BMW shares rose about 1.4% for the week in both Frankfurt and New York, with the former closing Friday at €97.51 and the latter ending at $34.64. Each is up more than 13% year to date.

Tesla (NASDAQ:TSLA) is reportedly edging closer to employing die-casting techniques — a groundbreaking approach to EV manufacturing that aims create nearly the entire underbody of an electric vehicle as a single unit — rather than the roughly 400 components required for the conventional method.

Terry Woychowski of Caresoft Global told Reuters that this development will be a game changer for the industry,