German carmaker BMW AG (BMWYY) announced that it will invest $600 million in its production plant in Spartanburg, SC on Monday. The investment, which is expected to run from 2018 through 2021 will add 1,000 jobs, the company said.

The plant, which makes the company's BMW X SUV for the U.S. and world markets, is already the company's largest production facility. The plant currently employs over 9,000 people and produced 411,000 vehicles last year. 

Though President Donald Trump has been critical of German automakers recently due to Germany's trade surplus with the U.S., BMW Chairman Harald Kruger said that the plans for the investment were in place before Trump took office. 

"There was already planning before [Trump's election], because we have long-term strategic planning, but also the success of the U.S. market is something that was, for us, important," Kruger said, according to CNBC. 

What's Hot On TheStreet

Unusual to hear these words: Under Armour's (UAA - Get Report) founder Kevin Plank has never been one to sound weak in a public setting. Plank is known for his motivational speeches to employees and desire to crush all competition. So, it was odd to hear Plank say rival Nike (NKE - Get Report) "isn't playing fair" on the Today Show on Sunday -- it sounded like a CEO who after several below plan quarters is finally realizing how challenging it will be to dethrone Nike.

Hat tip to Ford: A noted supporter of recycling, auto legend Henry Ford would be proud to know his spirit of conservation is still alive and well in the company that bears his name.

And in fact, as TheStreet learned on a recent trip to Ford's (F - Get Report) Dearborn, MI. headquarters, the founder's recycling efforts have been taken to a whole other level. Within Ford's Plastics and Materials Sustainability Research Department, which is tasked with finding ways to create auto parts from things found in the Earth such as soybeans and agave plants, senior technical leader Deborah Mielewski showed off a new coin tray made from shredded cash.

It took about $400 of cash to make the coin tray, said Mielewski.

Shout out to the 1990s: It may be time to cash in those Tesla (TSLA - Get Report) stock gains and go out and buy one of these new classic cars, TheStreet reports. There are several models from 1992, including the early version of the Dodge Viper, that are starting to take off in value.

Nestle rips to a high: Shares of chocolate maker Nestle touched an all-time high Monday after activist investor Third Point, led by Dan Loeb, revealed it had built a stake in the group and pressed for asset sales and increased buybacks. The stake is worth more than $3.5 billion, making Third Point one of Nestle's top 10 shareholders. For Loeb, this is one of his boldest bets yet as he tries to shake up the staid consumer packaged goods giant.

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