German luxury carmaker BMW aims to produce its new class of electric vehicles in China as well as Europe from 2026, requiring an investment of around 1.3 billion euros, BMW production chief Milan Nedeljković said on Thursday.

The carmaker, which expects to release its new class of EVs in 2025, said that it would also produce the required high-voltage batteries in China.

This will "make a significant contribution to the further electrification of our portfolio", Nedeljković said. (Reporting by Rene Wagner; Sarah Marsh)