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Bmw Brilliance Joint Venture Agreement

BMW announced in 2018 that it would pay 3.6 billion euros ($4.2 billion) in 2022 for 25% of the company`s shares with Brilliance, its main joint venture in China, which completed its existing 50% stake and gave it control of BMW Brilliance Automotive (BBA). “BBA is our cornerstone for the long-term success of the BMW brand in its largest market,” said Nicolas Peter, Chairman of the Board of BMW AG, Responsible for Finance. “This year, our joint venture is celebrating its 15th anniversary. The tremendous growth we have achieved over the years is only possible thanks to our strong and reliable partnership with Brilliance. Together, we have laid the foundation for future growth. Bmw Brilliance Automotive Ltd. (BBA) was founded in May 2003 and is a joint venture between bmw Group and Brilliance China Automotive Holdings Ltd. BBA`s operations include the production, distribution and after-sales services of BMW cars in China. BBA has a state-of-the-art production base in Shenyang, Liaoning Province, a branch in Beijing and an extensive national distribution and services network. The joint venture employs approximately 20,000 people and has a network of nearly 400 local suppliers.

He`s the biggest taxpayer in Shenyang for 14 years. “Reform and openness have also given us the opportunity to create our BMW Brilliance joint venture and build state-of-the-art BMW cars here in China. Our production plant in Shenyang is one of the largest of the BMW Group in the world.¬†At the same time, the joint venture also announced an investment of more than THREE billion euros in new and existing facility structures in Shenyang in the coming years. In Tiexi, a new plant on the existing site will double the site`s capacity, while major processing and expansion operations will be focused on the nearby Dadong plant. In 2003, the BMW Group reached a new development base in China. In May, BMW Brilliance, the joint venture of BMW Group and Brilliance Automotive, was founded with a production base in Shenyang. After more than a decade of development, BMW Brilliance now has two factories in Shenyang (Dadong and Tiexi) and an engine factory. The new dadong (extension) work was officially inaugurated on May 19, 2017. The new plant will gradually increase BMW Brilliance`s annual capacity to 450,000 units depending on market demand.

Over the past five years, the BMW Group has invested a total capital of more than 2 billion euros in China. In addition, the Tiexi plant`s research and development centre was commissioned and the new Tiexi engine plant was inaugurated in January 2016. BMW Brilliance (official BMW Brilliance Automotive Ltd.) is a Chinese automotive company based in Shenyang. Its main activity is the production, distribution and sale of bmw cars in mainland China. SHANGHAI – BMW AG will take a majority with a Chinese joint venture, which will allow it to be the first foreign automaker to benefit from the relaxation of the long-criticized rules that restrict foreign ownership in the sector. The group has now entered into the transformation and valuation of the 13-year period. As far as the brand is concerned, it moves from product management to brand management; In technology, she learns from BMW Group as an example of upgrading co2 technologies, computing and smart enterprise technology. From the order of efficiency, until the end of the 13th five-year period, the group ensures that annual production and sales volume reach 1.5 million, annual turnover more than RMB300 billion, and total profits and taxes of more than 50 billion yuan. The Brilliance Automotive Group will continue to pursue joint ventures and independent collaborative development to take advantage of the opportunity to cultivate new phases of growth and further contribute to the implementation of the national strategy to revitalize the old industrial bases in the Northeast and to the independent development of branded cars.