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BEIJING, November 15 (TMTPOST) — The agreement of BMW"s new power battery project was recently signed in Shenyang, which will be invested by BMW Brilliance, with a total investment of about 10 billion yuan ($1.42 billion), according to the official announcement last Sunday.
This is another major investment after the BMW Brilliance started a large-scale production base upgrade project with a total investment of 15 billion yuan ($2.12 billion). According to the agreement, the BMW Shenyang production base will undergo a large-scale expansion of power battery production center. Upon completion, the center will become the third power battery center of the BMW Group worldwide.
Li Le Cheng, Deputy Secretary of the Liaoning Provincial Party Committee and Governor of Liaoning Province, said, " Since BMW settled in Shenyang in 2003, our two sides have established 19 years of sincere cooperation and have achieved a series of fruitful results. We hope that BMW will speed up the construction of the project and strive for its early completion and operation. It is also hoped that BMW will continue to deepen its cooperation with Liaoning and Shenyang, promote progress from both sides and achieve win-win results".
According to Dr. Franz Decker, President and CEO of BMW Brilliance Automotive Ltd., the investment of RMB 10 billion ($1.42 billion) to expand the power battery production scale at the Shenyang production base is a key step for BMW to accelerate electrification in China. The new power cell project is based on sustainable production technologies in line with the principal of " Lean, Green, and Digital ". BMW Brilliance sincerely thank the local government for its strong support of the project and the company will contribute to promoting high-quality industrial upgrading in Liaoning Province and Shenyang City.
After years of development, BMW Shenyang’s production base has established a strong local electrification system, integrating supply chain, R&D, power battery, and electric vehicle production. In the future, the new power cell project will further enhance BMW"s local production strength of power cells and bring a new boost to the economic development of Liaoning Province and Shenyang City.
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