英文: BMW joint venture car project in China gets initial approval - report The first stage in Bayerische Motoren Werke AG s joint venture plan to make cars in China has been approved by Chinese officials, Handelsblatt said, citing the Beijing-based official newspaper of the Chinese Communist Party.
It said the next phase is for BMW to complete a feasibility study by end this year and sign a joint venture contract with local partner Brilliance.
The party s official newspaper said BMW will hold 50 pct in the joint venture. Billiance and the Chinese government will take 40 pct and 10 pct, respectively.
It said initial capacity is planned at 20,000 cars annually and 40,000 in the second phase.