BMW Wins Approval for China Electric-Vehicle Joint Venture

Caixin Global | Dec 2, 2019 at 8:05 PM
  • BMW AG’s plan to produce electric vehicles (EV) in China has received approval from the nation’s state planner, the company’s joint-venture partner announced, as the massive 5.1 billion yuan ($725 million) project awaits another key approval before actual production can begin.
  • The Jiangsu branch of the National Development and Reform Commission (NDRC) approved the project on Nov. 21, paving the way for construction to begin next year, according to a Friday announcement from Great Wall Motor Co. Ltd. Great Wall’s 50-50 joint venture with BMW, Spotlight Automotive Ltd., is developing the project.
  • Spotlight Automotive is now allowed to conduct product development work for EVs under the latest approval, but still must get separate approval for actual EV manufacturing under the tougher guidelines.