BMW, Great Wall Get Okay for Factory in China
Great Wall Motor Co. and partner BMW AG have finally cleared regulatory hurdles to open a factory in Zhangjiangang and supply the Chinese market, Reuters reports.
The partners announced the formation of their 50:50 venture, to be called Spotlight Automotive Ltd., in early 2018. Last March they described plans to erect a 5.1 billion-yuan ($725 million) factory in Jiangsu with annual capacity to make 320,000 electrified and gasoline-powered Mini-brand small cars and Great Wall models..
Great Wall confirmed the cost of the factory in a regulatory filing in Shanghai and says the plant is scheduled to open in 2022. But plans to devote half the plant’s output to electric cars remains under study by Chinese regulators, according to Reuters.
The remaining 160,000 units of capacity are intended to go to conventionally powered vehicles for export. But the news service says the trade war between the U.S. and China prompted BMW to suspend plans to make he plant an export hub.
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