BMW: develops joint venture with Brilliance Automotive
(CercleFinance.com) - The BMW Group today announces signing a framework agreement with Brilliance Automotive Group Holdings for the development of their joint venture in China - BMW Brilliance Automotive (BBA) - which was initially launched in 2003.
BBA will hence increase the capacity of its two local production plants in Liaoning Province, targeting a total of 520,000 BMW vehicles produced in 2019. The fully electric BMW iX3, which is produced by BBA, is now intended to be exported outside China.
“Our agreement sets a long-term framework for our future in China - a future involving continued investment, further growth and a clear commitment to the development and production of electric vehicles,” said Harald Krüger, BMW's chairman.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
BBA will hence increase the capacity of its two local production plants in Liaoning Province, targeting a total of 520,000 BMW vehicles produced in 2019. The fully electric BMW iX3, which is produced by BBA, is now intended to be exported outside China.
“Our agreement sets a long-term framework for our future in China - a future involving continued investment, further growth and a clear commitment to the development and production of electric vehicles,” said Harald Krüger, BMW's chairman.
Copyright (c) 2018 CercleFinance.com. All rights reserved.