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BMW in advanced talks for Chinese joint venture

Bayerische Motoren Werke AG said Feb. 23 that it has signed a letter of intent with Chinese manufacturer Great Wall Motor for a new joint venture in China to produce its MINI brand of vehicles.

The strategy behind the move centers around a focus on local production of future battery-electric MINI vehicles in China, BMW said in a news release.

The two companies are seeking to hammer out the details of a potential joint venture and cooperation agreement. BMW noted that it has no plans to set up an additional sales organization in China and is committed to continuing the established sales structure.