BMW set a world gross sales document in 2023 when China was by far its largest particular person market. A whopping 826,300 vehicles have been delivered final 12 months, and that wasn’t even the best quantity ever. In 2021, BMW bought 847,900 automobiles within the nation. With that in thoughts, it shouldn’t come as a shock that the corporate’s CEO revealed plans for additional investments within the Folks’s Republic. The promise was made by Oliver Zipse throughout his go to as a member of German Chancellor Olaf Scholz’s enterprise delegation.

“China is the place to be. Our continued success on this planet’s largest automotive market can solely go hand in hand with the continual progress and growth of our native footprint within the nation.”

The top honcho went on to say BMW’s rising success in China is intently linked to the financial progress achieved over the past three many years. As a reminder, the native BMW Brilliance Automotive three way partnership was based again in Could 2003. Initially a 50:50 deal, BMW elevated its share within the JV to 75% a few years in the past.

Zipse couldn’t miss the chance to speak concerning the subsequent wave of electrical automobiles ushered in by the Neue Klasse. EVs on the devoted platform will enter manufacturing in China in 2026. Designworks’ new studio in Shanghai is already engaged on fashions catering to Chinese language tastes. The BMW boss talked about NK-based vehicles are “not a brand new chapter within the historical past of mobility” however quite “an entire new ebook.”

To arrange for Neue Klasse, BMW Brilliance Automotive is spending RMB 10 billion (about $1.38 billion at present alternate charges). The funding goes right into a new battery plant that can create round 2,000 jobs in Shenyang.

Within the meantime, it’s enterprise as common for BBA. It simply launched long-wheelbase variations of the brand new X1 and iX1. These be part of the stretched X5 together with elongated variants of the three Collection and 5 Collection. The smaller of the 2 saloons can be bought as a totally electrical i3 solely in China. An additional-long 2 Collection Gran Coupe is due by 12 months’s finish or early 2025.

Supply: China Every day