BMW might spin off Mini making

Ivan Schwartz
October 14, 2017

Just earlier this week a news report from China emerged claiming BMW was interested in joining forces with Chinese manufacturer Great Wall.

John Zeng, managing director of LMC Automotive Shanghai, said the possible partnership might be dedicated to electric Mini cars.

BMW AG is working on a deal that will bring manufacturing of the iconic Mini brand to China for the first time, according to people with knowledge of the plan.

Brilliance China Automotive Holdings, which makes cars in a venture with BMW, rebounded 4.9% at 10.01am in Hong Kong after falling 2.1% on Wednesday.

BMW's China sales grew 11.3 percent previous year. It added that both companies signed an agreement in April 2016 to study the feasibility of developing electric vehicles and traditional power vehicles in China.

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"We are in discussions with Great Wall about setting up a joint venture to produce cars in Changshu", said a BMW executive, who was not authorised to speak on the matter. A new report, however, hints at MINI being the brand in focus for this new venture. Great Wall would fit the bill as it is one of the biggest auto brands in China today.

Subsequently, Hyundai was also linked as a buyer to Jeep brand.

Trading would be suspended pending clarification of press articles, the company said.

Last month it struck a deal to secure supplies of lithium, a mineral key for developing electric vehicles.

"The BMW Group has the largest share of the electrified market worldwide; this year, we've already sold more electrified vehicles than in the whole of last year and we are well on track to deliver our target of 100,000 by year-end", said Ian Robertson, head of sales and marketing for BMW AG.

Other reports by GizPress

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