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Autos

BMW to delay Hungary plant in coronavirus savings drive

FRANKFURT (Reuters) - BMW BMWG.DE will put investments on hold as it seeks to conserve cash to counter a fall in demand caused by the spread of the coronavirus pandemic, Chief Financial Officer Nicolas Peter said on Wednesday.

“In light of the current situation, we will be delaying a number of projects, like the plant in Hungary. Other projects will be carefully reconsidered,” Peter said on a call to discuss first quarter earnings.

Reporting by Edward Taylor; Editing by Riham Alkousaa

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