German automaker BMW announced on Friday an additional investment of 20 billion yuan (about 2.81 billion US dollars) at its production base in Shenyang, capital of Liaoning province, northeast China.
The automaker noted that investments will be aimed at modernizing and introducing technological innovations at the plant of the BMW Group joint venture in China - BMW Brilliance Automotive Ltd. (BBA) in the Dadong region.
“The planned investment demonstrates not only our confidence in the long-term prospects for the development of the Chinese economy, but also in further mutually beneficial cooperation with our Chinese partners,” said Oliver Zipse, Chairman of the Board of Management of BMW AG , in his speech.
In 2026, the first NEUE KLASSE models will roll off the assembly line in Shenyang - a completely new generation of BMW cars that combine all the company's innovations in the field of electrification, digitalization and circular economy, Zipse noted .
In recent years, BMW has been increasing its investments in Shenyang. In November 2023, BBA completed construction of the main building of the new battery plant, with a total investment of RMB 10 billion.
In 2023, the BMW Group delivered a total of more than 820,000 vehicles from the brand to the Chinese market BMW and MINI.
