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Brilliance-BMW Automotive Co. Ltd, headquartered in Shenyang, capital of Northeast China’s Liaoning Province, would invest 450 million euro (US$549 million) to achieve an annual production capacity of 30,000 BMW cars by 2005, sources of the company said.
By then, sales volume of the company may reach 10 billion yuan, and profit valued at 1 billion yuan.
The company, a Sino-U.S. joint venture, officially went into operation in Shenyang in July 2003.
Utlizing the surplus production resources of Brilliance Jinbei it produces BMW cars, the X3 series and the new X5 series. It is developing the new X3 series, expected to be placed into production in August 2005.
The company has drawn up a procurement plan in line with China’s new industrial policies.
In this year and the next, the company plans to purchase pressed products, doors, engines, deoscillators, bearings, oil tanks, oil pumps, speed changers, front and back drivers, steering wheels, and front and back braking systems.
(Shenzhen Daily September 15, 2004)
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