BMW to expand investment in China

Olive Zipse, chairman of the board of management of BMW Group, said the German premium carmaker is convinced in the long-term potential of the Chinese market and will continue its investment in the country.

Zipse made the remarks in a speech at the World New Energy Vehicle Congress held from Aug 26 to 28.

"And our common goal is clear: We will create an efficient and digital industry with cutting-edge technology between our economies.

"Together we can develop sustainable solutions for the world, promoting economic growth and prosperity," said Zipse.

Zipse called for cooperation to tackle global economic challenges, adding that Sino-German cooperation in the automotive sector has been benefiting each other.

"We need more cooperation, not less. This should be our response to the major challenges that are currently impacting the global economy," he said.

BMW has built three car-making plants in Shenyang, Northeast China's Liaoning province, making the city BMW's largest production network globally.

Since 2010, its joint venture BMW Brilliance has invested around 83 billion yuan ($11.99 billion) in Shenyang.

Its latest Lydia plant, with investment of 15 billion yuan, started production earlier this year.

Its joint venture BMW Brilliance mainly produces electric cars at the plant, including the i3, a mid-size sport sedan designed exclusively for the Chinese market.

The joint venture is also the sole producer of the electric iX3 model, which it also ships from China to overseas markets.