China is rapidly growing from an economic point of view, and that includes the car making industry. Aware of this fact, the big car companies try to get a piece of the cake.
But in order to make money, you have to spend some, and BMW sure is spending.
Chinese Premier Li Kequiang came for three days to Germany, and in the presence of both him and Chancellor Angela Merkel, BMW signed an agreement with its Chinese counterpart, Brilliance Auto. The agreement stipulates that some 100 million EUR will be invested into the Chinese market.
This money will go into building a new manufacturing plant as well as an economic research center. This represents the next step in the relationship between BMW and Brilliance, a partnership that started back in 2003. Since then, the German car maker has made huge strides into the Chinese market and soon that might be the main market for BMW.