BMW to Invest $2.8 Billion in China
This initiative will lead to the production of the German brand's new electric lineup at the Shenyang plant in 2026
BMW plans to invest 20 billion yuan ($2.8 billion) in a Chinese plant in Shenyang. The move demonstrates the German manufacturer’s strong inclination towards the Chinese market. This was announced by group president Oliver Zipse on the occasion of the Beijing Motor Show 2024. This new financial commitment, which brings BMW’s investment in the Shenyang plant to 105 billion yuan, is aimed at producing new exclusively electric Neue Klasse vehicles, with which BMW aims to close the technological gap with its competitors. This new class of car will be launched in 2025 and will also be manufactured in China starting 2026.
While the European Union investigates state aid to the Chinese auto industry – the Beijing government is essentially accused of dumping – German manufacturers showed up in full force at the Chinese auto fair and are planning investments to try not to lose what they have in their core markets.
“This commitment not only underscores our success in China over the past three decades, but also expresses our confidence for the years ahead,” Oliver Zipse explained in a statement.