German carmaker BMW announced on Friday an additional investment of 20 billion yuan (about $2.81 billion) in its production base in Shenyang, capital of northeast China's Liaoning Province.
The carmaker said the investment will be used for upgrading as well as technological innovation of the Dadong plant of BMW Group's joint venture in China, BMW Brilliance Automotive Ltd. (BBA).
"The planned investment underlines not only our confidence in China's long-term economic prospects, but also in the innovation capabilities of our Chinese partners," said Oliver Zipse, chairman of the Board of Management of BMW AG, in a speech.
In 2026, the first NEUE KLASSE models, a completely new generation of BMW models that combines all BMW's innovations in the areas of electrification, digitalization and circular economy, will roll off the production line in Shenyang, Zipse noted.
BMW has been increasing its investment in Shenyang in recent years. In November 2023, BBA completed the construction of the main building of a new battery production plant, with a total investment of 10 billion yuan.
In 2023, the BMW Group delivered a total of more than 820,000 BMW and MINI vehicles in the Chinese market.
Related articles:
Related suggestion:
Helicopter with Iran president Raisi suffers 'hard landing,' state TV saysReal favorites but Bayern a big threat in UCL return leg2 dead and 5 missing after a boat collision on the Danube River in HungaryEMILY PRESCOTT: Emma Stone's got a black belt in red carpet appearancesHeavy rains set off flash floods in northern Afghanistan, killing at least 84 peopleBarcelona extend Cubarsí contract to 2027China enjoys clean sweep at WTT Saudi SmashReal favorites but Bayern a big threat in UCL return legBiden will deliver Morehouse commencement address during a time of tumult on US college campusesOlympic champion Horigome falls in Olympic Qualifier Series
1.9992s , 6500.1328125 kb
Copyright © 2024 Powered by BMW to further invest $2.8 bln in NE China production base ,Worldly Wonders news portal