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Found 5 results

  1. BMW has announced today that it has signed a “letter of intent” with Chinese automaker Great Wall Motor on producing electric-versions of the Mini in China. The German automaker in a statement said the next steps will be agreeing on the details of a possible joint venture and clarifying various aspects such as a location for production. The two have been in talks for almost the past two years - Great Wall confirmed the talks back in October. It is expected that the electric Mini will be similar to the concept that debuted last year at the Frankfurt Motor show. BMW also confirmed that production of the electric Mini will also take place at their Oxford, Great Britain plant starting next year. Source: Reuters via Automotive News (Subscmiription Required), BMW Press Release is on Page 2 BMW Group plans joint venture for MINI electric vehicles in China MINI brand set for growth with local partner No plans for additional sales organisation in China Expansion of BMW Brilliance Automotive joint venture Munich. The BMW Group is in advanced discussions to ramp up the global success of its MINI brand through a new joint venture in China. A key element of the brand’s continued strategic development will be local production of future battery-electric MINI vehicles in the world’s largest market for electromobility. To this end, the BMW Group has signed a “letter of intent” with the Chinese manufacturer Great Wall Motor. In addition to production of the first battery electric MINI at the main plant in Oxford starting in 2019, this signals a further clear commitment to the electrified future of the MINI brand. Next steps will be to agree on the details of a possible joint venture and cooperation agreement and clarify aspects such as the choice of production location and concrete investments. The BMW Group has no plans to set up an additional sales organisation in China. The company is firmly committed to continuing the successful cooperation with the established sales structure. Independently of its strategic considerations towards the MINI brand, the BMW Group will further expand its highly successful BMW Brilliance Automotive (BBA) joint venture in China with its partner, Brilliance. In addition to its two automobile production locations, BBA already runs an engine plant, which includes a battery factory for electrified BMW brand vehicles produced locally in Shenyang. This is the first battery factory operated by a premium automobile manufacturer in China. In recent years, BBA has become a cornerstone of the BMW brand’s success in its largest market and serves as a model for the continued development of MINI in China. Around 560,000 BMW brand vehicles were delivered to customers in China in 2017 – more than in the next two largest markets, the US and Germany, combined. In 2017, China was MINI’s fourth-largest market, with around 35,000 units delivered. This underlines the brand’s additional global potential. The successful strategy for expansion of the BMW Group’s global production network obeys a clear rule: Production follows the market. However, expansion of the BMW brand in its largest markets, such as China, has not led to a decrease in production at the company’s German plants. On the contrary, between 2007 and 2017, production in Germany increased by close to a quarter to around 1.15 million vehicles per year. At the same time, almost half of all BMW production now takes place at plants outside Germany. A similar growth strategy could accelerate development of the MINI brand significantly without questioning the BMW Group’s commitment in the UK. The company has made significant investments over the years to step up its involvement in the country. View full article
  2. BMW has announced today that it has signed a “letter of intent” with Chinese automaker Great Wall Motor on producing electric-versions of the Mini in China. The German automaker in a statement said the next steps will be agreeing on the details of a possible joint venture and clarifying various aspects such as a location for production. The two have been in talks for almost the past two years - Great Wall confirmed the talks back in October. It is expected that the electric Mini will be similar to the concept that debuted last year at the Frankfurt Motor show. BMW also confirmed that production of the electric Mini will also take place at their Oxford, Great Britain plant starting next year. Source: Reuters via Automotive News (Subscmiription Required), BMW Press Release is on Page 2 BMW Group plans joint venture for MINI electric vehicles in China MINI brand set for growth with local partner No plans for additional sales organisation in China Expansion of BMW Brilliance Automotive joint venture Munich. The BMW Group is in advanced discussions to ramp up the global success of its MINI brand through a new joint venture in China. A key element of the brand’s continued strategic development will be local production of future battery-electric MINI vehicles in the world’s largest market for electromobility. To this end, the BMW Group has signed a “letter of intent” with the Chinese manufacturer Great Wall Motor. In addition to production of the first battery electric MINI at the main plant in Oxford starting in 2019, this signals a further clear commitment to the electrified future of the MINI brand. Next steps will be to agree on the details of a possible joint venture and cooperation agreement and clarify aspects such as the choice of production location and concrete investments. The BMW Group has no plans to set up an additional sales organisation in China. The company is firmly committed to continuing the successful cooperation with the established sales structure. Independently of its strategic considerations towards the MINI brand, the BMW Group will further expand its highly successful BMW Brilliance Automotive (BBA) joint venture in China with its partner, Brilliance. In addition to its two automobile production locations, BBA already runs an engine plant, which includes a battery factory for electrified BMW brand vehicles produced locally in Shenyang. This is the first battery factory operated by a premium automobile manufacturer in China. In recent years, BBA has become a cornerstone of the BMW brand’s success in its largest market and serves as a model for the continued development of MINI in China. Around 560,000 BMW brand vehicles were delivered to customers in China in 2017 – more than in the next two largest markets, the US and Germany, combined. In 2017, China was MINI’s fourth-largest market, with around 35,000 units delivered. This underlines the brand’s additional global potential. The successful strategy for expansion of the BMW Group’s global production network obeys a clear rule: Production follows the market. However, expansion of the BMW brand in its largest markets, such as China, has not led to a decrease in production at the company’s German plants. On the contrary, between 2007 and 2017, production in Germany increased by close to a quarter to around 1.15 million vehicles per year. At the same time, almost half of all BMW production now takes place at plants outside Germany. A similar growth strategy could accelerate development of the MINI brand significantly without questioning the BMW Group’s commitment in the UK. The company has made significant investments over the years to step up its involvement in the country.
  3. So Mr. Musk is in the news with announcing yesterday land agreements to start building the Hyperloop in January 2016 with completion in 2018. http://www.msn.com/en-us/money/technology/musks-hyperloop-moves-closer-to-reality/ar-BBhZvZV?ocid=ansCNBC11 My question is will it really change the way we travel? Will it truly get built from border to border or just a magic trick of distracting investors and the news from the poor performance of Tesla? Your Thoughts?
  4. William Maley Staff Writer - CheersandGears.com October 23, 2012 Back in 1983, American Motors signed an agreement with Beijing Auto Works to build the Jeep Cherokee XJ. Two years after the agreement, Jeep Cherokees would roll off the line in Beijing. The agreement would solider on when Chrysler brought American Motors in the late eighties. Chrysler would end the agreement in 2009. But now, Jeep vehicles could be rolling off the line again in China. According to Bloomberg, Fiat, Chrysler's parent company, is in talks with their Chinese partner, Guangzhou Automobile Group, to build Jeeps locally. This could include building Jeep's full lineup. “The volume opportunity for us is very significant. We’re reviewing the opportunities within existing capacity” as well as “should we be localizing the entire Jeep portfolio or some of the Jeep portfolio,” said Mike Manley, COO of Fiat and Chrysler in Asia and Jeep's president. Manley was quick to say if this was to go ahead, building vehicles in China would only augment production in the U.S., not kill it. Why is Fiat consider building Jeep vehicles overseas? Sales have been rapidly growing overseas, with 117,189 vehicles sold so far this year. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article
  5. William Maley Staff Writer - CheersandGears.com October 23, 2012 Back in 1983, American Motors signed an agreement with Beijing Auto Works to build the Jeep Cherokee XJ. Two years after the agreement, Jeep Cherokees would roll off the line in Beijing. The agreement would solider on when Chrysler brought American Motors in the late eighties. Chrysler would end the agreement in 2009. But now, Jeep vehicles could be rolling off the line again in China. According to Bloomberg, Fiat, Chrysler's parent company, is in talks with their Chinese partner, Guangzhou Automobile Group, to build Jeeps locally. This could include building Jeep's full lineup. “The volume opportunity for us is very significant. We’re reviewing the opportunities within existing capacity” as well as “should we be localizing the entire Jeep portfolio or some of the Jeep portfolio,” said Mike Manley, COO of Fiat and Chrysler in Asia and Jeep's president. Manley was quick to say if this was to go ahead, building vehicles in China would only augment production in the U.S., not kill it. Why is Fiat consider building Jeep vehicles overseas? Sales have been rapidly growing overseas, with 117,189 vehicles sold so far this year. Source: Bloomberg William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

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