BMW, Chinese partner to invest in expansion,add second plant in china
BMW, Chinese partner to invest in expansion,add second plant in china
German luxury car maker BMW AG on Tuesday signed a memorandum of understanding with its Chinese partner, Brilliance China Automotive Holdings Ltd to invest US$735 million to raise production capacity, sources reported.
The investment will partly be used to fund the expansion of an existing joint venture plant in Shenyang, Liaoning Province, where BMW 3-series and 5-series sedans are produced. It is expected that the Shenyang plant will produce 75,000 units by the end of next year, compared with the current capacity of 30,000 per year.
The joint venture will start building the new plant in the Shenyang Economy and Technology Development Zone in 2010, eyeing an annual production capacity of 100,000 units and to 300,000 units in the long term or before 2017.
As China has become BMW’s fourth largest market, the new investment underscores BMW’s long-term commitment to the cooperation, said Friedrich Eichiner, a board member of the BMW Group.
admin
picture from wall street journal
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