BMW Given Green Light to Ink JV in China

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Last updated at: (Beijing Time) Tuesday, July 16, 2002

BMW Given Green Light to Ink JV in China

The Chinese government has formally approved BMW's proposal for projecting a joint venture with Brilliance China Automotive Holdings Ltd., BMW released last Friday, July 12, in Munich.

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The Chinese government has formally approved BMW's proposal for projecting a joint venture with Brilliance China Automotive Holdings Ltd., BMW released last Friday, July 12, in Munich.

According to the report, the joint venture will start production in the latter half of 2003, with an annual production capacity of 30,000 BMW-3 series and BMW-5 series vehicles.

BMW still has to get a feasibility study permit, a contract permit and a production permit before actual production can begin.

In the first six months of this year, BMW sold altogether 3,933 cars in China, up 32.2 percent over the corresponding period of last year.

Analysts said that BMW expects to control a 50% stake in the joint venture. Brilliance China will take a 40% stake and the remaining stake will be held by the government.

If successful, BMW will become the first foreign luxury carmaker to produce automobiles in China.

By PD Online Staff Huang Ying

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