BMW in Advanced Talks With Great Wall Motor for Electric Mini JV
February 23 2018 - 5:32AM
Dow Jones News
By Max Bernhard
BMW AG (BMW.XE) has signed a letter of intent with China's Great
Wall Motor Co. Ltd. (2333.HK) and said that it is in advanced
discussions on a possible joint venture to produce electric
Mini-brand vehicles with the Chinese car maker.
The Munich-based company said the next steps are to agree on the
details of the potential joint venture and on a cooperation
agreement.
"In addition to production of the first battery electric MINI at
the main plant in Oxford starting in 2019, this signals a further
clear commitment to the electrified future of the MINI brand," BMW
said.
The German company said it is planning to expand its existing
BMW Brilliance Automotive joint venture with Brilliance China
Automotive Holdings Ltd. (1114.HK).
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
February 23, 2018 05:17 ET (10:17 GMT)
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