The BMW Group and Brilliance Auto Group signed a memo on January 12, to start the development program for the next phase.
Brilliance BMW Auto will construct a new plant in the Shenyang Economic and Technological Development Zone. The construction project is scheduled to break the ground in 2010, with over 5 billion yuan investment. Upon completion, the auto engine plant is expected to turn out 300,000 autos annually.
On the basis of the 600 new staff employed this year, Brilliance BMW Auto will employ and train another 1,000 staff in Shenyang in the course of building the new plant.
Dr Eichner, director of BMW Group, said “China has become BMW’s fourth largest customer in the world. BMW keeps intensifying long-term pledges to the Chinese market and our joint ventures. China has attracted worldwide attention, because of its economic boom. We have great expectations on China. We are willing to actively participate and promote the Chinese economy.”
Qi Yumin, President of Brilliance Group, said “The signing of the second phase expansion of the Brilliance BMW project marks that our two groups have entered a new historical stage in cooperation. As the Chinese stakeholder, we will stick to our promises and supply greatest support to the joint venture.”
BMW Group and Brilliance Group hold 50 percent of the stakes of the joint venture respectively. Since it was founded in 2003, the first stage project has a total investment of 4.5 billion yuan.
