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German carmaker BMW fully confident about China's positive business prospects: spokesman

(Xinhua)    10:06, August 05, 2020

German carmaker BMW remains fully confident about the positive mid- and long-term business prospects of China, a spokesman of the company told Xinhua in a recent interview.

"We stand firm on BMW's long-term strategy in China, and are committed to our large-scale investments and will continue introducing new products and technologies into BMW's largest single market, especially on e-mobility and digitalization," the spokesman said.

At BMW, the production follows the market, according to the spokesman. As China is by far BMW's largest market, the company has set up two plants for vehicle production and one for powertrain.

"We've announced some big investments in additional plant capacities. So, from a China perspective, we will see an even stronger effect on the local production and supply chain and we have no plans to have any adverse effects here," he said.

"Signs of business rebound have been seen in China since March. This is because, on the one hand, the market was recovering thanks to the series of targeted economic measures announced by the government; On the other hand, the economy in China is proving to be very resilient due to the economic foundation built up over the past decades," he noted.

According to BMW, BMW has more than 400 suppliers in China, and the China market registered an annual sales volume of more than 720,000 units of BMW and MINI vehicles in 2019.

China is also a large production base for the Bavarian company, as about one fifth of the BMW vehicles were produced in China's northeast city of Shenyang last year.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wen Ying, Liang Jun)

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