The MINI electric version was approved for development.
Editor’s note: This article is from “Future Car Daily” (WeChat public ID: auto-time), author: Zhang.
Author | Zhang Yi
Editor | Li Huanhuan
After 16 months of long-distance running, the joint venture between Great Wall Motor and BMW Group has finally entered the stage of landing.
On the evening of November 22, Great Wall Motor announced that its beam car production base project jointly invested with BMW was approved by the Jiangsu Provincial Development and Reform Commission. The project is scheduled to start in 2020 and be completed in 2022.
The project is located in Zhangjiagang City, Suzhou City. The project catalogue is classified as a foreign-invested project. The total investment is 5.1 billion yuan and the annual production capacity is 160,000 units. Announcement, This approval is only for the development of the full export of fuel passenger vehicles and the development of pure electric passenger vehicles. Before the production and sales of pure electric passenger vehicles, it is necessary to obtain approval for the pure electric vehicle project.
Beam Car is the first complete vehicle joint venture established after China’s foreign-invested share restriction policy is released. It is also BMW’s first electric car in the world. Joint venture project. In February 2018, the Great Wall signed a letter of intent with BMW,Announcement display, Great Wall Motor or related parties will be the majority shareholder of the joint venture, and BMW or its related parties are minority shareholders.
On July 10 last year, the two parties formally signed a joint venture contract. According to publicly disclosed information, the joint venture is ultimately Chinese and foreign The equity ratio is 50:50, the total registered capital of 1.7 billion yuan is contributed by the shareholders of Great Wall and BMW, respectively, 850 million yuan, and the remaining investment amount (total investment of 5.1 billion yuan) is self-raised by the joint venture company. According to the joint venture contract, the shareholders of both parties did not have the obligation to provide financing, guarantee or asset pledge for the self-financing of the joint venture company.
“Beam Automotive will develop and produce MINI electric vehicles in China and will produce electric vehicle products for Great Wall Motors.” BMW has said that “China has become the world’s largest electric vehicle market, and the localized production of MINI pure electric vehicles has become a key factor in the continued development of MINI.”
“The first model of the new brand is a compact SUV with a battery life of about 500 kilometers. The space is large and very light.” Wei Jianjun, chairman of Great Wall Motors, said in an interview after the signing ceremony in July last year, “Production of fuel This content of the car is based on MINI’s globalization strategy and market considerations.”
Xu Haidong, assistant secretary-general of the China Automobile Association, previously analyzed that Great Wall Motor not only needs BMW’s experience in technology and management mode, but also as a self-owned brand that is increasing its exports. BMW’s global business experience will also make up for Great Wall Motor. A short board in terms of exports.