On July 10, 2018, China Great Wall Motor Co., Ltd. and BMW Holding Company formally signed a joint venture contract with the witnesses of government officials of both countries.
According to the contract, Great Wall BMW established a joint venture company, each of which holds 50% of the shares. The new company is named Beam Automobile Co., Ltd., with a registered capital of RMB 1.7 billion. The registered address is Zhangjiagang City, Jiangsu Province, with a total investment of RMB 5.1 billion. It consists of six members. The chairman is appointed by the Great Wall and the vice chairman is appointed by BMW. The directors are appointed for a term of four years. The joint venture company has planned an international advanced vehicle factory with a standard annual production capacity of 160,000 units. This is the first time in the world by the BMW Group. A pure electric vehicle joint venture project is also a bridgehead for Great Wall New Energy Vehicles to become international.
The second cooperation, whether it is a global strategy for BMW's new energy vehicle or a strong strategy for the Great Wall's internationalization strategy, is a strong alliance of strengths. In the future, through the two sides in brand building, management systems, manufacturing and technology. In-depth cooperation in research and development will inevitably open up a broader market space and accelerate the globalization process and the pace of new energy development.
On July 10, 2018, China Great Wall Motor Co., Ltd. and BMW Holding Company formally signed a joint venture contract with the witnesses of government officials of both countries.
According to the contract, Great Wall BMW established a joint venture company, each of which holds 50% of the shares. The new company is named Beam Automobile Co., Ltd., with a registered capital of RMB 1.7 billion. The registered address is Zhangjiagang City, Jiangsu Province, with a total investment of RMB 5.1 billion. It consists of six members. The chairman is appointed by the Great Wall and the vice chairman is appointed by BMW. The directors are appointed for a term of four years. The joint venture company has planned an international advanced vehicle factory with a standard annual production capacity of 160,000 units. This is the first time in the world by the BMW Group. A pure electric vehicle joint venture project is also a bridgehead for Great Wall New Energy Vehicles to become international.
The second cooperation, whether it is a global strategy for BMW's new energy vehicle or a strong strategy for the Great Wall's internationalization strategy, is a strong alliance of strengths. In the future, through the two sides in brand building, management systems, manufacturing and technology. In-depth cooperation in research and development will inevitably open up a broader market space and accelerate the globalization process and the pace of new energy development.
