BETTER PARTSBMW Group extends contract with Brilliance
The BMW Group and the Chinese Brilliance Automotive have, since 2003, a joint venture in China: BMW Brilliance Automotive. BMW announces today that it is his signature placed under a document that the co-operation until at least 2040 extends.
The BMW Group and Brilliance Automotive know each other now for 15 years and the cooperation, like the apparently very good. The two companies extend their cooperation in each case, with 22 years to 2040. Both BMW and Brillance had a share of 50 percent in the joint venture BMW Brilliance Automotive, but that's about to change. Now BMW has by 75 percent of the shares of a controlling stake in the hands.
The partnership is pumping in the coming years, more than three billion euros in the setting up of a completely new production facility in the Chinese Tiexi and also says in its current production lines to invest. The production capacity of the joint venture must be about 2020 to 650,000 cars per year. Last year, BMW Brilliance Automotive just not up to 400,000 cars. With the expansion of its factories, says the company 5,000 new workplaces to generate.
The joint venture currently produces the BMW 1-series sedan, the 2-series Active Tourer, 3-series (sedan and LWB), the BMW X1, the extended 5-series sedan and the BMW X3. In 2020 is also the all-electric version of the X3, iX3, built in China. That car will also go to other markets to be shipped.