#Brilliance china auto license

Our extended joint venture contract lays the foundation for further mutual growth and progressive development in the future. In the past decade alone, BBA has invested more than 10 billion euros in China. BBA has significantly contributed to position the BMW brand as a leading premium brand in China. â€œOur local investments are proving to be the right approach. Â€œBBAâ€™s remarkable success story testifies to the proven partnership within the joint venture and with the provincial government in Liaoning,â€ said Nicolas Peter, member of the Board of Management of BMW AG responsible for finance. The Shenyang plant is currently being expanded to meet increasing demand in the national market, and the agreement with BMW which proceeded this week was first announced back in 2018, the year of the automaker’s fifteenth anniversary. The automaker currently operates a plant in Shenyang, while another is being built in Tiexi. The joint venture contract has been extended until 2040 and lays the foundation for sustainable business success, creating growth and prosperity in the province of Liaoning and beyond,â€ explained Oliver Zipse, chairman of the Board of Management of BMW AG.įounded in 2003, BMW Brilliance Automotive produced over 700,000 vehicles during 2021, and employs roughly 23,000 people. We firmly believe that our continued success in the worldâ€™s largest automotive market can only go hand in hand with the growth and further development of our BBA joint venture.

Â€œToday marks an important step, as we continue to expand our long and successful commitment to China. As part of the agreement, the joint venture between BMW and Brilliance has been extended to 2040, and the remaining 25% stake is indirectly owned by Brilliance China Automotive Holdings Ltd.

#Brilliance china auto license

This makes BMW the first and only automaker to establish majority ownership in China, after the granting of a new business license by Chinese regulators. Following the BMW Group assuming 50% ownership of BMW Brilliance Automotive in China during late 2018, this month, BMW has increased its stake yet again, this time to 75%.