On February 11, The Southern + reporter learned that the new joint venture contract of BMW Brilliance officially came into effect, and the validity period of the joint venture cooperation between BMW Group and its Chinese partners was extended to 2040. Under the new joint venture contract, from February 11, 2022, the BMW Group's stake in BMW Brilliance was changed to 75%, and the remaining 25% of the shares held indirectly by its partner Brilliance China Automotive Holdings Limited. At the same time, BMW continues to increase investment in China, and BMW Brilliance's production capacity will increase again this year.
As early as the end of 2018, BMW Brilliance became the first batch of joint venture car companies to "eat crabs" when the share ratio restriction was abolished in stages. Since January 1 this year, the Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition) has been officially implemented, and the restrictions on foreign ownership in passenger car manufacturing have been abolished, and China's automotive industry has achieved full opening up to foreign investment.
Increasing the shareholding ratio also means that the BMW Group has increased its support for BMW Brilliance. BMW Brilliance will once again see a capacity increase this year, with its existing plant in Shenyang's Dadong District currently undergoing a full expansion, as well as a new plant under construction in Tiexi District. The BMW Group said that the variety of locally produced models will also be further increased, and more pure electric models will be introduced for domestic production.
In 2021, BMW sold 846,000 vehicles in China, the first luxury brand, in the face of China's largest market, BMW Group accelerated the pace of electrification, launching 5 pure electric vehicles in 2022, after disclosing that BMW 3 Series pure electric models will be put into production in Shenyang.
[Reporter] Wei Hongquan
【Author】 Wei Hongquan
【Source】 Southern Press Media Group South + client
![BMW Brilliance's new joint venture contract officially came into effect And the validity period was extended to 2040[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)