(Yicai Global) Oct. 20 -- Brilliance China Automotive Holdings Ltd. [HK:1114], Bayerische Motoren Werke AG's current sole partner in China, declined to comment on rumors that Great Wall Motor Co. [SHA:601633] is negotiating with the German auto giant.
Brilliance Auto will strengthen the partnership it has maintained with BMW for more than a decade, Finet.hk quoted Wu Xiaoan, the chairman of Brilliance Auto's board of directors, as saying. The firms have built strong collaborative relationship in team construction and market development, Wu Xiaoan said.
Since both sides are confident about their Chinese joint venture, they have extended the duration of their cooperation agreement to 2028 in advance, Wu Xiaoan said.
The groups will promote the development of traditional fuel-powered autos as well as new energy vehicles, said Brilliance Auto Executive Vice President Wu Liyi. Two NEV models will likely be rolled out at the end of this year and next year, Wu Liyi said.
Great Wall Motor said on Oct. 14 that is negotiating with BMW about contracting for the latter's Mini marque business in China, and has signed a confidentiality and feasibility assessment agreements.