CHINA: BMW production joint venture reportedly ready to go
BMW AG said on Friday it had won key approval from Beijing to start building cars in mainland China from the second half of 2003, a major step in its bid to double Asian sales over the next five years, Reuters reported. Confirming an earlier Reuters report, BMW said Beijing had approved a feasibility study on a planned deal with Brilliance China Automotive Holdings to build up to 30,000 BMW 3 and 5-series cars per year in the northeastern Chinese province of Liaoning.
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