LONDON — BMW will make investments 600 million kilos ($750 million) at its U.Okay. plant in Oxford to take its Mini model all-electric by 2030, a contemporary increase for Britain’s automobile business after years of Brexit-related uncertainty.

Beginning in 2026, the automaker will make two electrical fashions on the English plant: the three-door model of the Mini Cooper and the Aceman compact crossover.

BMW may also put money into its U.Okay. plant in Swindon that makes elements for Mini fashions.

The corporate didn’t say what is going to occur to its engine plant in Hams Corridor in an announcement launched on Monday.

The Oxford manufacturing facility will make solely electrical fashions as of 2030.

The Cooper and Aceman EVs may also be made in China. Exports of the vehicles will start in 2024.

Had BMW opted to maintain electrical Mini manufacturing restricted to China, it will have been a severe blow to the U.Okay., the place automobile manufacturing has halved because the 2016 Brexit referendum.

British enterprise minister Kemi Badenoch will go to the plant in Oxford for the announcement of the deal, which the federal government mentioned boosted complete funding within the automotive sector lately to greater than 6 billion kilos.

“BMW’s funding is one other shining instance of how the UK is the very best place to construct vehicles of the long run,” British Prime Minister Rishi Sunak mentioned in an announcement.

The automaker mentioned the U.Okay. authorities had offered help for the funding however didn’t present particulars.

The small, quick and inexpensive unique Mini went on sale in 1959 and has remained well-liked underneath BMW because it revived the model in 2001, however its future in Britain has been unsure for years.

Nonetheless, the business stays on edge with each Britain and Europe’s automakers calling for a delay within the implementation of post-Brexit “guidelines of origin,” underneath which 45 % of the worth of an EV being bought within the European Union should come from Britain or the EU from 2024 to keep away from tariffs.

The choice comes lower than two months after India’s Tata mentioned it will make investments 4 billion kilos in an EV battery plant in Britain to provide its Jaguar Land Rover factories — a transfer seen as important for the U.Okay. automobile business’s continued survival within the electrical age.

Earlier this 12 months, U.Okay. startup Britishvolt filed for Britain’s equal of Chapter 11 chapter placing a serious blow to the nation’s hopes of constructing a home-grown battery business.

Bloomberg contributed to this report