BMW is satisfied with the start-up of its joint venture with Brilliance China Automotive Holdings in China, but is not in talks to increase its stake, according to Reuters.

BMW chief executive Helmut Panke told journalists that the company is not discussing any alternatives to the current set-up.

BMW owns 50% of the joint venture, BMW Brilliance Automotive. Brilliance China owns 49% and 1% is owned by the government of Shenyang.

Earlier this month Brilliance China told Reuters that it wants to increase the scale of its joint venture with BMW to improve its overall production scale. Brilliance China also produces its own vehicles branded Zhonghua.