Brilliance and BMW extend JV
Print Edition
GERMANY’S BMW said yesterday that it has extended its joint venture with Brilliance China Automotive for 10 years till 2028.
The partnership between BMW and Brilliance that began in 2003 extends beyond carmaking to research and development. It makes popular BMW-branded products like the 3 Series, the 5 Series, and the X1, and Brilliance BMW is now building its own Zinoro brand. The brand has just launched its first model, the 1E, an electric SUV.
The joint venture can now produce 300,000 units annually, which helped BMW’s sales jump 19.7 percent in 2013 to more than 390,000 units, including imported BMW and MINI cars, on the Chinese mainland.
As its sales network and production capacity continue to develop, the joint venture is set to drive BMW’s sales on the mainland by a compounded annual rate of 10 percent from now on until 2020 and to double in nine years.
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