BMW invests over $1.4b in Chinese division

Gasgoo.com (Shanghai May 19) - BMW announced its Chinese investment hitting a new high of 1 billion euros ($1.43b), the Beijing Times reported today. According to sources within BMW Brilliance, of the amount invested, 560 million euros ($798.1m) is already the normal amount put into the Chinese venture, with the remaining being additional funds.

BMW Brilliance's Public Relations Director Meng Wei said that the funds will be used to build new additions to its factory in Liaoning's capital of Shenyang, whose ownership is split evenly between both parties. According to a statement made by the company in 2009, the Shenyang production site was able to refit 200,000 vehicles per year. The site will be expanded to produce 150,000 vehicles by next year, as well as be responsible for the manufacture of the 3 Series and X1 SUV.