BMW and Great Wall will make an electric MINI in China

The German automaker BMW AG announced on Tuesday that it was going to create a joint venture with the Chinese company Great Wall Motor. Ltd to produce electric cars with Mini brand. According to the agreement, the two companies will hold 50% stake in the newly formed company, which will initially be 850 million Chinese yuan (about $ 128 million).

In addition, the new company called Spotlight Automotive Limited will develop and produce BMW announced that

BMW CEO, Harald Krueger, said that the joint venture agreement would allow the company German to contribute to China's ambitious plans to increase the agreement is part of the agreements between German and Chinese companies signed this week, when the delegations of the two countries, led by Chinese Premier Li Kuzyan and German Chancellor Angela Merkel, met in Berlin.

Merkel and Li declared at the meeting their shared commitment to international free trade rules. They reported that they would oppose the protection policy of US President Donald Trump

Spotlight Automotive is registered in the Jiangsu Province of China, where a new plant will be established

L & # 39; The agreement follows a letter of intent signed by Great Wall and BMW in February to set up a joint venture. Investors speculated on a possible partnership for a long time

Tags: BMW | Mini | Great Wall | production of MINI electric cars