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BMW China Venture May Make 1-Series Cars
210508, Beijing. Bayerische Motoren Werke AG's Chinese venture may make 1-Series cars to help compete with Audi AG and other rivals, China Business News said, citing Qi Yumin, head of BMW's local partner Brilliance China Automotive Holdings Ltd.
The two companies may soon reach an agreement on plans for a new factory, which could start production as early as the end of 2009, the newspaper cited Qi as saying. The new plant may make 1-Series cars if imported ones sell well, the report added.
BMW plans to start selling imported 1-Series cars, its entry-level model, in June. BMW Brilliance Automotive Ltd. is expanding its annual capacity to 41,000 vehicles from 30,000 this year through plant upgrades and other measures, it said in March. Brilliance China is listed in Hong Kong.
Source: Bloomberg.
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