BMW Brilliance's new joint venture contract officially came into effect And the validity period was extended to 2040

On February 11, the BMW Group announced that its new joint venture contract with BMW Brilliance in China has officially come into effect, and the validity of the joint venture between bmw group and its Chinese partners has been extended to 2040. According to the new joint venture contract, from February 11, 2022, the BMW Group's shareholding in BMW Brilliance will be changed to 75%, and the remaining 25% of the shares will be indirectly held by its partner Brilliance China Automotive Holdings Co., Ltd.

Oliver Zipse, Chairman of the BMW Group, said: "Today marks an important step for the BMW Group to invest in China and we will continue to strengthen our long-term commitment to the Chinese market and continue our business development. We have always believed that the success of the BMW Group in China is inseparable from the growth of the joint venture BMW Brilliance. The new joint venture contract has been extended until 2040, which will lay a solid foundation for BMW's sustainable business success in China, while also contributing to the development and prosperity of local and other interested parties in Liaoning. ”

In the past year, the BMW Group delivered a total of 846237 BMW and MINI models, an increase of 8.9% year-on-year, and the total sales volume ranked first in the domestic luxury car market.

At the previous BMW Group New Year's media communication meeting, the official announcement will be in 2022 in Shenyang and Zhangjiagang three new and upgraded factories, while the 3 series of pure electric version will be settled in BMW Brilliance in 2022 officially domestic production. It is understood that bmw group will sell 5 pure electric vehicle models in China in 2022, namely iX, iX3, i3, 3 series pure electric and pure electric flagship BMW i7. By the end of 2023, the BMW Group will offer around 13 pure electric products in the Chinese market.