Government sources say the move will help secure around 4,000 jobs. It comes after Sky News revealed earlier this year that the German car giant was planning to invest more than £500m in its plant in the city.
BMW is to build its next-generation electric Mini in Oxford after securing millions of pounds in taxpayer support from the government.
The German-headquartered car giant is set to announce later on Monday details of its multi-million pound investment, which ministers say will secure around 4,000 jobs.Sky News revealed earlier this year that BMW was preparing to invest more than £500m in its existing plant in the cityWhitehall sources declined to give details on the level of taxpayer support being offered, but did not dispute Sky's £75m figure.
The government said BMW's impending announcement means total investment into the country's automotive sector has now topped £6bn over recent years. Prime Minister Rishi Sunak said:"BMW's investment is another shining example of how the UK is the best place to build cars of the future." He added:"By backing our car manufacturing industry, we are securing thousands of jobs and growing our economy right across the country."
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