Chinese state-owned carmaker FAW is considering taking over BMW’s local partner Brilliance. The background is the precarious financial situation of Brilliance’s largest shareholder, the Huachen Automotive Group, which is on the verge of bankruptcy.
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BMW has started production of the all-electric iX3. According to the carmaker, the first BMW iX3 rolled off the production line at the BMW Brilliance Automotive factory in Shenyang, China on 29 September.
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In China, the joint venture BMW Brilliance Automotive (BBA) has opened another battery centre at the Tiexi location, where the batteries for the purely electric BMW iX3 are now being produced.
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BMW Brilliance has begun construction of a new production facility on the existing Chinese plant site in Tiexi, a district of Shenyang in Liaoning Province. With the new plant, BMW Brilliance (BBA) intends to double production capacity at the site.
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The BMW Group is getting closer to achieving their plan of increasing their shares in the BMW Brilliance Automotive joint venture to acquire the majority. A special meeting of Brilliance China Automotive (CBA) has agreed to the sale of another 25% of the company to BMW.
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BMW is pushing ahead with its electrical plans in China. First, the carmaker takes over the majority of the joint venture with local car manufacturer Brilliance, second, the joint venture announced that it would invest over 3 bn euros in new and existing plant structures in Shenyang.
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BMW is planning to increase the ownership percentage of their joint venture BMW Brilliance Automotive (BBA) in China to at least 75%, which would make them the first foreign vehicle manufacturer in China to receive permission to own more than 50% of a JV.
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BMW and its partner in China, Brilliance, agreed to expand their BMW Brilliance Automotive (BBA) joint venture. BBA aims to increase capacity at both local facilities in order to produce 520,000 BMW a year from 2019. Moreover, the BMW iX3 may hit markets outside the People’s Republic.
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