The first China-made BMW car is set to roll off the production line next year after a venture between Brilliance China Automotive Holdings and BMW Group was approved by Beijing.
Shenyang Jinbei Automotive Industry Holdings, a Brilliance China Automotive subsidiary, said its Shenyang-based venture expected an annual production capacity of 30,000 vehicles per year.
The joint venture with the German luxury car-maker plans to produce the latest BMW 3- and 5-series models in China. Production is scheduled to begin in the second half of next year.
It will employ the existing production facilities of Shenyang Jinbei Passenger Vehicle Manufacturing, a 51 per cent subsidiary of Brilliance China.
The company said the luxury car market was one of the fastest growing sectors in the mainland market.
BMW senior vice-president Luder Paysen said most of the significant growth in the world car market in the next 10 years would come from Asia.