July 13, 2002
BMW and Chinese partner to build 3 and 5 series in China
Hong Kong, China – BMW AG and Brilliance China Automotive Holdings Limited have received approval from the Chinese Government for the establishment of a joint venture for the production and sale of BMW vehicles in China.
The proposed joint venture, which will be located in the city of Shenyang, Liaoning Province, will utilize the existing production facilities of Shenyang Jinbei Passenger Vehicle Manufacturing Company Limited, a 51% subsidiary the Company, is expected to have an annual production capacity of 30,000 vehicles per annum. The joint venture partners currently plan to produce the latest BMW “3” and “5” series models in China, production is scheduled to begin in the second half of 2003.