Sunday, 22 October, 2017

BMW Great Wall Joint Venture Reportedly about Making MINIs in China

BMW X1 long wheelbase A long-wheelbase X1 is currently built by BMW for the Chinese market Close
Kelvin Reese | 14 October, 2017, 01:14

The German company is discussing outsourcing production of the vehicles to Great Wall Motor Co, China's biggest SUV maker, and the possible export of Mini brand cars from China, said the people, asking not to be identified as the deliberations are private. BMW is trying to stay ahead of third-place Daimler's Mercedes-Benz, which recorded 26.6 percent growth in China sales in 2016 thanks to a fresher model lineup.

Reuters earlier this week reported the two automakers were looking to establish a joint venture in China. Rolls-Royce however, saw a decrease in sales of 10.7 percent to 2,343 units, but it's worth noting the Phantom is missing from the brand's lineup now as the new model is getting ready to roll out starting next year.

According to Automotive News, quoting anonymous sources inside both companies, the BMW Group is negotiating with Great Wall with the aim of bringing MINI production to China. Great Wall would fit the bill as it is one of the biggest vehicle brands in China today.

Brilliance China Automotive Holdings, which makes cars in a venture with BMW, rebounded 4.9% at 10.01am in Hong Kong after falling 2.1% on Wednesday.

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Mrs Hatheier then calmly threw the shark over the rockwall and into the ocean, while onlookers cheered her on. I was just thinking he was trapped in this rock pool and I needed to help him out".

Subsequently, Hyundai was also linked as a buyer to Jeep brand. Trading in the stock will resume on Monday, the company said.

The firm's shares soared as much as 19.2 percent to their highest level in over two years, before paring some gains to stand up 14 percent in afternoon trade.

Great Wall shares jumped 13% this week on rumors of the tie-up, and were suspended on Thursday pending an announcement.

Brokerage Jefferies said in a note that it was "understandable that BMW needs a new partner to defend its market share in a more competitive market", and expected that the move would hit current partner Brilliance.

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