BMW, Great Wall to establish new EV plant in China

Mubasher: BMW and its partner Great Wall Motors will establish a new joint venture (JV) in China that will produce electric vehicle (EV) models, the German auto giant said in a press release on Friday.

The carmakers will invest EUR 650 million ($715.57 million) in a new plant, to produce BMW’s electric MINI brand and Great Wall Motor models, while the construction phase is planned for 2020 to 2022.

The new venture, under the name of Spotlight Automotive, will have a standard capacity of up to 160,000 vehicles per annum, with a required employment of 3,000 eventually.

The Chinese city of Zhangjiagang in Jiangsu Province was chosen as the new facility’s location, due to its solid supplier network, skilled workforce and developed infrastructure, BMW said.

“This joint venture will enable us to produce a larger number of MINI-brand-fully electric vehicles at attractive conditions for the world market,” BMW’s management board member Nicholas Peter said.

Source: Mubasher Source: {{details.article.source}}