Brilliance Auto, Daimler in talks for SPV JV
Shanghai, August 3 (Gasgoo.com) Brilliance Auto, the Chinese partner of BMW AG, is in talks with Daimler AG to form a special purchase vehicle (SPV) joint venture in China, according to newspaper reports.
"Brilliance is discussing a manufacturing tie-up with Daimler now and a deal could be reached before the end of the year," Reuters said, citing an unnamed executive from Brilliance Auto.
Qi Yumin, chairman of Brilliance Auto, told The Beijing News that the two sides are expected to create a JV on the development of SPVs.
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He said that China's SPV market has a great potential for future growth. The industry may not see a high sales volume but will yield to a high absolute profit.
A Daimler spokesman in China said he could not confirm the matter.
Daimler AG, whose Mercedes-Benz unit has a joint venture with Beijing Auto, also has a 34 percent stake in Fujian Motor Industry Group.
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