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BMW to extend China venture with Brilliance to 2028

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BMW to extend China venture with Brilliance to 2028

Bayerische Motoren Werke AG – the world’s largest luxury automaker is planning a contract extension to its local China partnership with the country’s Brilliance China Automotive by another decade.

Karsten Engel, the boss of BMW’s China business, said that the Munich-based automaker is aiming for a partnership renewal of its contract with the local Chinese partner beyond the original agreement that was signed for a 15 years period and would expire in 2018.

The new, decade long extension that would span the contract until 2028 would allow both companies discuss long-term plans – as the German automaker seeks to challenge Audi’s leadership in the world’s largest single automotive market.

So far, during the first five months of the year, BMW has already managed to increase deliveries in China by no less than 25%, which puts the manufacturer on pace to expand for the first time annual sales in China to more than 400,000 units.

BMW already said in March that its joint-venture partner would expand local production capacity at their two manufacturing facilities in Shenyang to reach an annual tally of 400,000 cars. The two companies also signed an agreement back then in Berlin to start work on joint projects that would allow for a deeper cooperation.

Via Bloomberg

by Aurel Niculescu (my Google+) - Monday, June 23rd, 2014 - filed under BMW, Industry, News. Image credit: .
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