Luxury Auto Manufacturers Collaborate To Build Innovative New Electric Minis In China
The facility’s construction phase will take place between 2020 and 2022 in the city of Zhangjiagang, Jiangsu Province. The two companies have set up a joint venture called Spotlight Automotive Limited and once up and running, is slated to produce as many as 160,000 vehicles annually.
“This joint venture will enable us to produce a larger number of Mini-brand-fully electric vehicles at attractive conditions for the world market,” said Nicolas Peter, a member of BMW AG’s board of management, responsible for finance, in a statement.
“This is also an important strategic step for the Mini brand,” Peter said, adding, “The joint venture with Great Wall underlines the enormous importance of the Chinese market for us.”
While the Mini Electric is already being built in England, China’s electric car market is the largest on the planet, with a little more than one million electric cars sold in the last year alone. Europe and the US follow behind.
The BMW Group may be the latest automotive firm to focus on electric vehicles in China, but it’s certainly not the first to invest in the e-mobility market. Last week, Volkswagen Group China announced that it would invest more than 4 billion euros next year, with just under 40% of its investment focusing on electric vehicles.
What’s more, Renault and the Jiangling Motors Corporation Group also set up a joint venture for e-mobility in China this past July. Renault said that the venture will aim to “further promote the development” of China’s electric vehicle industry and development.