The BMW Group and Chinese car manufacturer Great Wall Motor on Tuesday signed an agreement to produce MINI electric vehicles through a new 50:50 joint venture based in China.
During an event for autonomous and connected driving attended by China’s Premier Li Keqiang and Germany’s Chancellor Angela Merkel in Berlin, the BMW Group and Great Wall Motor committed to partner in a new joint venture, “Spotlight Automotive Limited,” for the development and production of electric vehicles in China.
“Today’s signing represents a new level of cooperation between China and Germany,” said Harald Krüger, Chairman of the Board of Management of BMW AG, during the signing ceremony.
“This strategic partnership is a clear win-win for the BMW Group and Great Wall Motor, enabling us to contribute to China’s ambitious plans to ramp-up new energy vehicles and reduce emissions in the mobility sector,” elaborated Krüger.
The joint venture will also explore the production of electric vehicles for Great Wall Motor.