CHINA BRILLIANCE AUTO TIES UP WITH BMW GROUP
AsiaInfo Services, April, 2003
AsiaInfo Services 04-02-2003 China Brilliance Auto Ties up with BMW Group BEIJING, Apr 02, 2003 (SinoCast via COMTEX) -- BMW Group and China Brilliance Automotive Holdings Ltd. (CBA) concluded a contract in Beijing yesterday, co-establishing a 50-50 joint venture company to manufacture and market BMW cars in Shenyang, Liaoning Province. The joint venture company will start to make new BMW 3 series in the second half of the year.
EURO 450 million will be injected in the project by 2005. The company will acquire a throughput of 30,000 units of new BMW3 and BMW5 series in 2004. BMW has marketed about 6,700 BMW cars in mainland China in 2002, or 15,500 if sales in Hong Kong and Taiwan were counted at a growth rate of 41.4% over the same period of 2001. BMW hopes...
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