BMW to Expand Global Production Capacity 27% by 2020

BMW AG intends to increase its annual production capacity to 3 million vehicles by 2020 from about 2.4 million units today, company sources tell Handelsblatt.

The company’s plan would double production to 600,000 units in China and hiking output in the U.S. and Canada by 340,000 units to a combined 750,000 vehicles. The company is likely to unveil the plan during its annual shareholders meeting on Thursday.

BMW also plans to assemble its X5 crossover vehicle in China, according to the German newspaper. That model currently is supplied worldwide from BMW’s U.S. factory in Spartanburg, S.C.