BMW today commemorated the 2 millionth vehicle produced at its Spartanburg, S.C. plant by announcing a major investment of almost $900 million and 300 new jobs as it starts to prepare the factory for the up-coming X4 in 2014.

BMW's new investment and the new jobs will raise Spartanburg's production capacity to 300,000 vehicles per year. Currently the plant produces BMW's Z4, X5, X6 and X3, the latter of which is a hot seller for BMW. Last month, BMW sold 3532 X3s, which was 316.0 percent better than the same month in 2010. The new investment will also prepare the plant for production of the X4. The X4 will essentially just be a scaled-down X6 Sport Activity Coupe that's built on the X3's chassis, rather than the larger X5's.

Currently, 70 percent of the vehicles produced at the Spartanburg plant are exported overseas; that number will likely increase as BMW readies the X4, which will likely enter production in time for the 2014 model year.

The 2 millionth vehicle produced in the Spartanburg plant was a Vermillion Red Metallic X3 xDrive35i with the M Sport Package and it is set to be displayed at the factory.

Source: BMW