German company BMW and Chinese brand Great Wall has created a new joint venture Spotlight Automotive for the construction and operation of the plant worth 720 million dollars.
The new site is located in Zhangjiagang, Jiangsu province.
The plant is scheduled for 2022, which will provide about 3 000 jobs. The estimated capacity will reach 160,000 vehicles per year.
On the eve of the representatives of BMW said that the new plant will manufacture the future electric vehicle Mini. At the same plant will produce a model Great Wall, and possibly other models of BMW.
But the details are not yet disclosed. It is expected that the bulk of the vehicles will be produced for the local market, but can begin and shipment to other countries.
Nicolas Peter, chief financial officer of BMW, said: “This joint venture will allow us to expand production electric Mini. It is also an important strategic step for the Mini brand. Joint venture with Great Wall emphasizes the great importance of the Chinese market for us.”
In addition, BMW has promised to continue the cooperation with another local company Brilliance.