Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

My Favorite China's Brands
Company

Great Wall Motor, BMW announce new energy auto JV

July 11, 2018


Abstract : Chinese carmaker Great Wall Motor Company Limited announced Tuesday a joint venture (JV) with BMW, with each side holding a 50 percent stake in the new company of new energy automobiles.

ev

BEIJING, July 11 (Xinhua) -- Chinese carmaker Great Wall Motor Company Limited announced Tuesday a joint venture (JV) with BMW, with each side holding a 50 percent stake in the new company of new energy automobiles.

Named "Spotlight Automotive," the JV has registered capital of 1.7 billion yuan (256.6 million U.S. dollars), with Great Wall and BMW Holding each contributing 850 million yuan, Great Wall Motor Company Limited said in a notice.

Total investment is 5.1 billion yuan, with the remainder covered by the JV itself through other channels.

The new company is registered in Zhangjiagang, east China's Jiangsu Province, and will be involved in research, development and manufacture of new energy vehicles.

The standard annual production capacity of the JV Company is estimated to be 160,000 vehicles. The annual production scale may be increased depending on the JV Company's production planning, according to the notice.

BMW Holding B.V. is BMW AG's wholly-owned subsidiary, registered in the Netherlands.

Scan the QR code and push it to your mobile phone

Keyword: BMW Great Wall Motor

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial