BMW Opens Electric-Car Plant in China - 23 iunie 2022

Bayerische Motoren Werke AG (DE.BMW) opened a $2.2 billion plant in China for electric cars, as the German auto maker seeks to catch up with Tesla Inc. (US.TSLA) and Chinese rivals in the country’s booming electric-vehicle market.

The 15 billion yuan investment in the plant is the biggest that BMW BMW -0.47% has ever made in China, its largest market, the company said in a statement Thursday. The plant in the northern industrial city of Shenyang will be operated by BMW and its local partner and will boost the joint venture’s annual output by around 18% from 2021 to 830,000 vehicles, BMW said.

The plant, BMW’s third car factory in China with state-backed Brilliance China Automotive Holdings Ltd., will play an important role in accelerating the company’s electrification transformation, said Jochen Goller, president and chief executive of BMW in China.

https://www.wsj.com/articles/bmw-opens-electric-car-plant-in-china-11655969326