BMW’s China venture plans to nearly triple capacity by 2012, a senior executive has said.
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Qi Yumin, chairman of Brilliance Auto, the state parent of the Hong Kong listed unit, Brilliance China Automotive, told Reuters the joint venture, which currently makes 35,000 units per year, plans to produce 100,000 annually within four years.
Qi also said the company is still in talks with BMW to build a second plant in China, but gave no further details.
Overall, Brilliance Auto plans to more than triple its unit sales to 1m by 2012, up from 300,000 in 2004, Qi said.
The company will invest 6bn yuan in 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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