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South Carolina Business Review

BMW completes $1.7bn SC investment

By Mike Switzer
Published August 19, 2026 at 6:30 AM EDT
SC Public Radio
Mike Switzer, host of the South Carolina Business Review

The EV industry got an additional boost from the Biden administration with a slew of investment tax credits. And while the current administration has eliminated a lot of these, the commitments that companies have made in our state continue to move forward. Our next guest’s company is one example as they have recently completed a $1.7 billion investment covering the expansion of an EV factory in Spartanburg and construction of a new battery assembly facility in Woodruff. Mike Switzer interviews Derek Lowe with BMW in Greer, SC.

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South Carolina Business Review SC Business Reviewbusiness newsbusinessBMWelectric vehiclesmanufacturingtaxesSC News
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Mike Switzer
After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.
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