BMW is looking to expand its presence in China to build EVs potentially with Great Wall Motors
13 October, 2017, 17:31
The prospective deal focuses specifically on electric vehicles, according to sources familiar with the matter. Talks with BMW are still at a preliminary stage and it is uncertain whether the cooperation will commence, the Chinese auto maker said.
The German vehicle maker said that it was in the midst of strategic development and expansion of its Mini brand, including diversification of partnerships and new cooperation models.
BMW is now considering another joint venture in China so that it can increase its production volumes and strengthen its electric vehicle presence in the market.
Great Wall did not specify if the new venture would make traditional gasoline-powered Mini models or electric ones, though it did say that some output could eventually be exported. It added they entered another agreement in February this year to evaluate the feasibility of cooperation for vehicles under the Mini brand. The German carmaker now has a joint venture with Brilliance China Automotive Holding, with the contract to expire by 2028.
"I don't know how far along we have gone nailing this deal", or whether the two companies have official central government approval for the venture, the BMW executive said.