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BMW, China's Great Wall in possible EV joint venture

13 October 2017

The two companies are discussing the possible export of Mini brand cars from China to other markets, said the officials, who asked not to be identified because the deliberations are private.

It appears that MINI production is about to venture into China for the first time, if a report by Bloomberg is to be believed.

The stock jumped 14% on Wednesday after www.iautodaily.com, a Chinese website, reported Great Wall and BMW would set up a joint venture in China and were selecting a venue to build a manufacturing plant. BMW said it planned to grow the Mini brand in China with a new local partner, without naming Great Wall.

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If the JV project moves ahead, it will be BMW's second partnership operation in China. "But producing electric cars will help BMW to meet its quota now that China demands every carmaker in the country. produce a certain number of such cars starting from 2019".

FILE PHOTO: A Great Wall Motors Haval HB-02 concept vehicle is presented during the Auto China 2016 auto show in Beijing, China, April 29, 2016. It added they entered another agreement in February this year to evaluate the feasibility of cooperation for vehicles under the Mini brand.

"Our business development with the joint venture BMW Brilliance Automotive will continue as planned, and we will carry on to invest and develop our joint venture." a spokesman for BMW said, declining to comment on any new joint venture.

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Thus far neither automaker has officially commented on the reports.

Last month it struck a deal to secure supplies of lithium, a mineral key for developing electric vehicles.

Trading would be suspended pending clarification of press articles, the company said.

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BMW, China's Great Wall in possible EV joint venture