LONDON -- BMW will invest 600 million pounds ($750 million) at its U.K. plant in Oxford to take its Mini brand all-electric by 2030, a fresh boost for Britain's car industry after years of Brexit-related uncertainty.
Starting in 2026, the automaker will make two electric models at the English plant: the three-door version of the Mini Cooper and the Aceman compact crossover.
BMW will also invest in its U.K. plant in Swindon that makes parts for Mini models.
The company did not say what will happen to its engine plant in Hams Hall in a statement released on Monday.
The Oxford factory will make only electric models as of 2030.
The Cooper and Aceman EVs will also be made in China. Exports of the cars begin in 2024.
Had BMW opted to keep electric Mini production limited to China, it would have been a serious blow to the U.K., where car production has halved since the 2016 Brexit referendum.
British business minister Kemi Badenoch will visit the plant in Oxford for the announcement of the deal, which the government said boosted total investment in the automotive sector in recent years to more than 6 billion pounds.
"BMW's investment is another shining example of how the UK is the best place to build cars of the future," British Prime Minister Rishi Sunak said in a statement.