(ANSA) - BELGRADE, 11 OTT - The German car automaker BMW has announced today that it will increase its presence in China and invest over 3 billion euros in a new automotive plant and in the expansion of existing plant structure, also to meet the demand for electric vehicles. In a statement, BMW Group said that it has extended earlier the existing joint venture with Brilliance Automotive (BBA), valid from 2018 to 2040. BMW Group intends moreover "to increase its stake in BBA from 50 percent to 75 percent and both partners have today signed a corresponding agreement." The joint venture between BMW and BBA will also experience an investment of more than three billion euros in new and existing plant structures in Shenyang over the coming years. "We are consistently following our growth strategy for China. With continuous investment, as well as the development and production of electric vehicles, we underline China's importance as a dynamic growth market for us," said Harald Krüger, Chairman of the Board of Management of BMW. The yearly production capacity of the BBA plants will be gradually increased to more than 650,000 units in total from the early 2020s, BMW said, adding that the investment will allow to to produce up to 100% electric vehicles. (ANSA).

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