Great Wall Motor will build a BMW factoryNovember 22, 2019
Great Wall Motor has received local government approval to build a factory with BMW, which has allowed BMW to create an electric mini car in China.
In February 2018, BMW and Great Wall signed a letter of intent to produce battery-powered mini batteries in China.
The purpose of this operation will be the opening of a plant in Zhangjiagang capable of producing 160,000 gasoline vehicles for export and another 160,000 so-called new energy vehicles (NEVs), according to documents on the city’s website.
On Friday, filing an application for the Shanghai Stock Exchange, Great Wall announced that the total investment in the project will be 5.1 billion yuan (724.4 million dollars), and construction should begin next year and be completed in 2022.
A trade dispute between China and the United States has forced BMW to freeze plans to establish a Chinese export center. BMW said at the Geneva Motor Show in March that it needed to assess whether the export plan was financially viable.
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