BEIJING, July 3 (Xinhua) -- Brilliance Auto and BMW Group have reached a strategic consensus recently on in-depth participation in BMW Brilliance parts and components industry cluster construction, and promoting transformation and upgrading of the supply chain through open cooperation, reported a local newspaper in northeast China's Liaoning Province on Friday.
It is learned that BMW Group has recommended the first group of 37 localized suppliers to Brilliance Auto as potential enterprises for joint venture and cooperation.
In 2003, the two companies had conducted cooperation and established BMW Brilliance.
BMW Brilliance firmly fulfills its localization commitment, aiming to improve its parts localization rate from the current 40 percent to about 70 percent, with its domestic accessory market expanding from current 49.7 billion yuan per year to 100 billion yuan per year, said Wei Lande, president and CEO of BMW Brilliance Automotive Ltd.
In 2019, the Brilliance Auto had obtained orders for BMW Brilliance parts totaling 6 billion yuan. By 2025, BMW Brilliance's parts and accessories business will bring more than 60 billion yuan of industrial output value to Liaoning, which will create nearly 30,000 jobs and promote the coordinated development of Liaoning's steel, petrochemical, and information industries.
(Edited by Bao Nuomin with Xinhua Silk Road, baonuomin@xinhua.org)
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