November 22, 2019 / 11:43 AM / 22 days ago

Great Wall gets approval for car plant with BMW

BEIJING, Nov 22 (Reuters) - China’s SUV maker Great Wall Motor said on Friday the local regulator had approved its auto manufacturing project with German premium carmaker BMW.

The project, with a total investment of 5.1 billion yuan ($724.36 million), will have annual capacity of 160,000 combustion engine cars for export, according to a Great Wall filing on Shanghai Stock Exchange.

Great Wall and BMW said in 2018 they plan to launch a joint venture to make new energy vehicles in China. ($1 = 7.0407 Chinese yuan renminbi) (Reporting by Yilei Sun in Guangzhou and Brenda Goh in Beijing; Editing by Edmund Blair)

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