Following the news that Kia and Yueda are about to launch a new cooperation method in China, the news that the car circle has begun to be more explosive in the new year has arrived. The BMW Group announces that its new joint venture contract with BMW Brilliance, a joint venture in China, has come into effect and the validity of the partnership has been extended until 2040. Specifically, the bmw group's stake in BMW Brilliance was changed to 75%, and Brilliance China Automotive Holdings Co., Ltd. indirectly held the remaining 25% of the shares.
Along with the adjustment of the equity structure this time, BMW's expansion investment projects have been implemented, including capacity increases (the existing plant in Shenyang's Dadong District is undergoing a comprehensive expansion and a new factory in Tiexi District is under construction), increasing the scale of procurement in China, and introducing a number of new pure electric vehicle models for the market (such as 3 Series pure electric and flagship i7, etc.).
Since its establishment in 2003, BMW Brilliance has been making significant contributions to local development, and has invested more than 73 billion yuan in the past decade or so. In 2020, the tax payment reached 38 billion yuan, and in 2021, the group also delivered 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 for a long time.
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The Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition) issued by the National Development and Reform Commission and the Ministry of Commerce stipulate that from this year onwards, the mainland will abolish the restriction on foreign ownership in passenger car manufacturing and the restriction that the same foreign investor can establish two or less joint ventures in China to produce similar vehicle products. This wave of policy dividends is undoubtedly extremely attractive, benefiting from this is bound to have more and more OEMs will be free to do boldly, after all, the most realistic is that enterprises will have more real money and development autonomy.