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BMW was founded in 15th anniversary: capital 3 billion euro brewing joint venture shares than release the first single

2018-10-11 18:18 Beijing daily TF0328

Today, BMW brilliance founded the 15 anniversary celebration held in Shenyang Tiexi factory. BMW Group officially announced the continuation of joint venture Bmw Brilliance Automobile Ltd (hereinafter referred to as BMW) joint venture agreement, and further expand investment to increase the production capacity of the production base in Shenyang.

Data for photo: Zhao Peng

BMW group and brilliance group jointly announced that the two shareholders of BMW Brilliance will extend the joint venture agreement to 2040 (2018 - 2040), to further deepen the cooperation between the two sides. At the same time, the investment of BMW Brilliance will increase 3 billion euros for existing and new production facilities construction projects: over the next few years Shenyang production base expansion, after the completion of the new plant will make existing production capacity doubled; in the East District of the expansion project is underway, the capacity remains unchanged, but the production system will be more flexible according to BMW, the future models and market demand gradually expand. Therefore, the next three to five years, BMW brilliance annual production capacity will gradually increase to 650 thousand units, 5000 new jobs.

But more interesting is that earlier, there are a number of media reports, BMW group will be 3 billion 600 million euros to acquire a stake in BMW brilliance, will increase its stake to 75%. This message has not received a formal response at the ceremony. However, the industry generally believe that this is only a matter of time. This is a prelude to the capital of BMW brilliance.

In April this year, Chinese President Xi Jinping announced at the Boao forum for Asia on the Chinese in 2018 will soon release the automotive industry restrictions on foreign equity ratio. 4 March 17, the national development and Reform Commission announced that the automotive industry will be divided into open type implementation of the transitional period. "The 2018 cancellation of special vehicles, new energy vehicles, restrictions on foreign equity ratio; 2020 years to cancel the restrictions on foreign equity ratio for commercial vehicle passenger car; 2022 canceled foreign equity restrictions, and cancel the joint venture does not exceed the limits of two. Through 5 years of the transition period, the automotive industry will cancel all restrictions on equity ratio."

Today's ceremony, Premier Li Keqiang congratulatory letter, letter said: BMW Brilliance Automotive Industry and is China relaxation of shares than the first beneficiaries limit, opening a new journey of Sino German automobile enterprise integration and development, mutual benefit and win-win. At 40 years of reform and opening up, Chinese opening the door open wider, will further open market access, create equally, constantly optimize the business environment. Welcome all foreign enterprises including enterprises, germany. The morning of October 10th, Premier Li Keqiang met with German BMW Group Chairman Klug. Klug's visit to China, mainly to expand investment in China, in Liaoning Shenyang Tiexi German high-end equipment Industrial Park, BMW brilliance third factory. "BMW is Chinese government to relax foreign investment in auto industry shares than the first beneficiaries of restrictions, can be said to be" the lead. "." Li Keqiang said, "it also shows that China is not only" when it comes to "promote open, more is to achieve" do it. "."

Bmw Brilliance Automobile Ltd was founded in 2003, the company's business covers the development of the localization of BMW automobile production, sales and product. 2017, BMW brilliance Dadong and Tiexi factory production of about 40 million, an increase of about 30%. Data show that in 2017 years, about 560 thousand BMW vehicles delivered to Chinese customers, including three of two by BMW brilliance Tiexi and Dadong two factory production.

In addition, BMW is gradually increasing in the layout of new energy Chinese. It is reported that the beginning of 2020, pure electric BMW iX3 will also be on cable factory assembly line, this car will be only in the Chinese production, not only supply Chinese market demand, will also export the global market. The BMW group is expected to China new energy vehicle market will maintain strong growth. To this end, BMW group is the system of promoting the construction of production system in china. The BMW group has launched 6 new energy vehicles in China, is the most abundant luxury car brand new energy products. 9 months of 2018, BMW group of new energy vehicles, an increase of nearly 5 times in the China market sales year-on-year, the cumulative sales of two domestic new energy vehicles for the first time exceeded ten thousand vehicles. If BMW shareholding increased to 75%, China got brilliance in the joint venture profits will be greatly reduced.

According to HKEx news today, the shares of the Brilliance China Automotive Holding s Ltd (Stock Code: 01114) on the morning of the 9 when the short-lived cease trading.


Source: Beijing Daily reporter Dong Yuhan

Editor: TF0328

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