BMW set for China joint venture deal

BMW set for China joint venture deal

MUNICH, Germany: German carmarker BMW is to sign a joint
venture agreement this month with China's minibus manufacturer
Brilliance, the company said on Friday.

The agreement on production and distribution of BMW cars in
China will be signed on March 27 in Beijing, the company said
following approval in writing by China's state council.

BMW hopes to start producing its 3 series car this autumn at a
plant in Shenyang in northeast China, with production of the 5
series to follow in summer 2004.

The German company aims in the long term to become the leading
provider of premium models in the growing Chinese market.

BMW chairman Helmut Panke believes China is set to become the
world's largest automobile market.

"The joint venture represents a fundamental step forward in
one of the most important automobile markets of the future", he
said. -- Dpa