BMW, Great Wall in Talks to Roll Mini Into China

13 Октября, 2017, 17:29 | Author: Leticia Walters
  • Great Wall BMW Said Working on Mini Car Deal

Great Wall said trading in its Hong Kong and mainland-listed shares would resume on Monday.

The German company is discussing outsourcing production of the vehicles to Great Wall Motor Co, China's biggest SUV maker, and the possible export of Mini brand cars from China, said the people, asking not to be identified as the deliberations are private.

"A deal with Great Wall wouldn't make sense, at least today, because the two companies have no market overlap and wouldn't achieve greater scale together", the publication quoted 65-year-old Italian-Canadian business magnate as saying. Separately, Reuters also reported the news, citing a source at BMW familiar with the matter.

BMW's China sales grew 11.3 percent a year ago. Talks with BMW are still at a preliminary stage and it is uncertain whether the cooperation will commence, the Chinese vehicle maker said.

The Mini small auto, first built to tackle soaring fuel prices in the late 1950s, has evolved over the years and the vehicles are now produced in the United Kingdom and the Netherlands.

Читайте также: China exports and imports both increase

BMW, which already has one Chinese manufacturing venture with Brilliance, is launching European production of an electric Mini at its British plant near Oxford in 2019.

Trading would be suspended pending clarification of press articles, the company said.

Brilliance China Automotive Holdings, which makes cars in a venture with BMW, rebounded 4.9% at 10.01am in Hong Kong after falling 2.1% on Wednesday.

A Great Wall official declined to comment.

The Mini brand's planned expansion in China "does not call into question our commitment to our facilities in Britain", BMW said in a statement.

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