BMW says needs local partner to accelerate Mini growth in China

Great Wall BMW Said Working on Mini Car Deal

BMW is reportedly in talks with Chinese automaker Great Wall Motors to outsource Chinese production of the iconic Mini. BMW is trying to stay ahead of third-place Daimler's Mercedes-Benz, which recorded 26.6 percent growth in China sales in 2016 thanks to a fresher model lineup.

Great Wall Motor said it was in talks with BMW to cooperate on vehicles, including those the German firm produces under the Mini brand, and that the pair have not yet agreed on any new ventures. The prospective deal focuses specifically on electric vehicles, according to sources familiar with the matter.

Brilliance China Automotive Holdings, which makes cars in a venture with BMW, rebounded 4.9% at 10.01am in Hong Kong after falling 2.1% on Wednesday. That strategy helped propel the company to a 26 percent sales surge past year.

The German automaker has announced sales of electrified vehicles through the first three quarters of 2017 have already exceeded all of a year ago. "But producing electric cars will help BMW to meet its quota now that China demands every carmaker in the country. produce a certain number of such cars starting from 2019".

China wants electric and hybrid cars to make up at least a fifth of the country's auto sales by 2025 and plans to loosen joint-venture regulations to achieve its aim.

Subsequently, Hyundai was also linked as a buyer to Jeep brand.

Year-to-date sales of both brands, which are part of the BMW Group, were up 64.2 percent in over the same period last year, the company said Friday.

Great Wall shares jumped 13% this week on rumors of the tie-up, and were suspended on Thursday pending an announcement.

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