German auto giant BMW said Friday it plans to build an electric version of its compact Mini in China, in a possible joint venture with local partner Great Wall. The Munich-based group is in "advanced discussions" aimed at "a new joint venture in China", it said in a statement, adding that the two firms had signed a so-called letter of intent about the project.
If plans to build the Mini in China go ahead, it would be the first time the unmistakeable cars - originally created by a British company - have been built outside Europe. But BMW and Great Wall have yet to agree on important details like where to build a factory and how much to invest.
China is the fourth-largest market for the Mini after Britain, the United States and Germany. Some 35,000 were sold there in 2017, or around one in ten sales worldwide. BMW follows a maxim that "production follows the market", making China ripe for investment in local manufacturing. Reaching 560,000 units in 2017, Chinese sales of BMW-brand cars - produced locally under a joint venture with carmaker Brilliance - outweighed shipments in other major markets the United States and Germany combined.
"A similar growth strategy could accelerate development of the Mini brand significantly," BMW said.
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