BMW’s China venture plans to nearly triple capacity by 2012, a senior executive said on Sunday.
BMW’s joint venture, which currently makes 35,000 units per year Investment Management, plans to produce 100,000 annually within four years, said Qi Yumin, chairman of Brilliance Auto, the state parent of the Hong Kong listed unit, Brilliance China Automotive Ltd.
Qi, speaking to reporters at the Beijing Auto Show, also said the company is still in talks with BMW to build a second plant in China, but he gave no further details.
Overall, Brilliance Auto plans to more than triple its unit sales to 1 million by 2012, Investment Management up from 300,000 in 2004, Qi said.
The company will invest 6 billion yuan for expansion projects over the next three years and may consider raising funds in the capital markets but he declined to give details of the fundraising plans.
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