AGL 6.84 Increased By ▲ 0.04 (0.59%)
ANL 9.40 No Change ▼ 0.00 (0%)
AVN 78.31 Increased By ▲ 0.19 (0.24%)
BOP 5.41 Increased By ▲ 0.01 (0.19%)
CNERGY 4.93 Increased By ▲ 0.08 (1.65%)
EFERT 77.98 Decreased By ▼ -0.02 (-0.03%)
EPCL 56.10 Increased By ▲ 0.30 (0.54%)
FCCL 15.35 Increased By ▲ 0.16 (1.05%)
FFL 6.44 Increased By ▲ 0.12 (1.9%)
FLYNG 8.05 Increased By ▲ 0.95 (13.38%)
GGGL 10.37 Increased By ▲ 0.02 (0.19%)
GGL 16.54 Increased By ▲ 0.23 (1.41%)
GTECH 8.90 Increased By ▲ 0.72 (8.8%)
HUMNL 6.47 Increased By ▲ 0.08 (1.25%)
KEL 2.96 Increased By ▲ 0.04 (1.37%)
LOTCHEM 29.09 Increased By ▲ 0.14 (0.48%)
MLCF 27.81 Increased By ▲ 0.36 (1.31%)
OGDC 74.86 Decreased By ▼ -0.34 (-0.45%)
PAEL 16.15 Increased By ▲ 0.20 (1.25%)
PIBTL 5.50 Decreased By ▼ -0.05 (-0.9%)
PRL 17.00 Increased By ▲ 0.09 (0.53%)
SILK 1.10 Increased By ▲ 0.03 (2.8%)
TELE 10.70 No Change ▼ 0.00 (0%)
TPL 8.12 Increased By ▲ 0.15 (1.88%)
TPLP 21.11 Increased By ▲ 0.28 (1.34%)
TREET 23.25 Increased By ▲ 0.25 (1.09%)
TRG 131.75 Increased By ▲ 3.05 (2.37%)
UNITY 23.49 Increased By ▲ 0.14 (0.6%)
WAVES 11.60 Increased By ▲ 0.06 (0.52%)
WTL 1.26 Increased By ▲ 0.15 (13.51%)
BR100 4,154 Increased By 40.7 (0.99%)
BR30 15,753 Increased By 158 (1.01%)
KSE100 41,483 Increased By 271.2 (0.66%)
KSE30 15,526 Increased By 115.7 (0.75%)
Business & Finance

BMW backs the restructuring of China JV partner's parent Huachen

  • "To BMW, Liaoning province and the city of Shenyang have become the crucial innovation and production base in China, and the cornerstone of our future success in China," BMW says
Published August 31, 2021
Follow us

BEIJING: BMW said on Tuesday it wanted to support the restructuring of Huachen Group, parent of the German premium automaker's Chinese joint venture partner Brilliance China Automotive.

BMW said in a statement to Reuters that it also wanted to use Huachen's existing car manufacturing capacity. Huachen is based in China's northeastern city of Shenyang in Liaoning province.

"To BMW, Liaoning province and the city of Shenyang have become the crucial innovation and production base in China, and the cornerstone of our future success in China," BMW said, it did not offer details of how it plans to participate in Huachen's restructuring.

BMW signs battery order with China's CATL

BMW Brilliance Automotive (BBA) is BMW's main business in China and key to its global sales. BMW said in 2018 that it would pay 3.6 billion euros ($4.2 billion) in 2022 for a further 25% stake in BBA.

Huachen has defaulted on billions of yuan in debt obligations. Chinese regulators have launched an investigation into possible violations of disclosure laws by the company.

BMW separately operates a joint venture for electric vehicles with Great Wall Motor.

BMW

Comments

Comments are closed.