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Munich Chinese Premier Li Keqiang's visit to Germany was a pleasure for BMW. Every hour, new agreements have been signed: for example, the Chinese manufacturer CATL builds a high-performance cell factory in Thuringia, which BMW intends to use in its "inext" power car from 2021. With Great Wall, you will soon build Elektrominis in China. And with its longstanding partner "Brilliance", Munich has agreed to increase the annual number of BMW models built in China from 400,000 today to 520,000.
Moreover, Li Keqiang is clearly ready to give a desire to BMW meet. On the sidelines of discussions, the Chinese government agreed that BMW could take over the majority of the joint venture in China from 2022, a law is already in preparation. According to the "Magazin Manager", up to 75% of the shares will be redeemed in Munich, both partners are still corrected.
"BMW Group welcomes China's commitment to pursue openness and reforms, including removing foreign ownership from the year 2022 on," he said on Thursday in Munich.
Details about "ongoing discussions" with partner Brilliance wanted to comment for the moment no further. According to the Chinese news website Sina, Brilliance chairman Qi Yumin is a little more reluctant.
The details of the abolition of the restriction of participation have not yet been published: "How can we talk about specific distribution of shares? 19659003] Munich's great interest in a higher joint venture share is obvious: no market is growing faster than the Chinese. Since 2013, the Group has doubled its sales in China to nearly 600,000 cars, with China being by far the largest market ahead of the United States and Germany.
Five models are manufactured in the two factories of Dadong and Tiexi. an extra SUV in China offline. The Elektor version planned for 2020 "iX3" will be exported from China around the world – also a Novom with BMW.
Jobs become even more important: With the trade war triggered by Donald Trump, China also imposes tariffs introduced. The BMW's off-road vehicle export from South Carolina to China is worth more. Group CEO Harald Krüger is therefore planning to build the X5 in China in the future, and other models could follow. The decisions that should make BMW even easier if you are clearly in charge of the joint venture with 75%.
Since 2003, BMW and Brilliance have been working together as part of a joint venture for the Chinese market. Until now, BMW as well as VW, General Motors or Daimler have performed very well with the joint venture structure.
Chinese manufacturers organized staff, factories and often also the sales department. Western manufacturers have in turn brought their models, their technology and the most modern production methods to China.
However, the Beijing government has not made its own auto industry a form of compulsory marriage. Above all, the partners of the joint venture relied on the innovations of their Western partners, enjoyed their share of the profits and neglected to develop their own brands and models.
With Geely, Nio or Great Wall has developed solid alternatives in recent years and is working much more resolutely from the point of view of the central government. Geely has not only successfully competed with Western brands in the domestic market, but the company is also a power beyond China.
Following the Volvo acquisition, Geely Li Shufu's founder also bought 9.7% in Daimler and in February. is now the largest single shareholder of competitor BMW. The promotion of such enterprises is more important for the Beijing government than the protection of joint ventures up to now unsophisticated in the industry.
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