AutoBeta(AutoBeta.net)12/31 Report--

Beam Motor, a joint venture between Great Wall Motor and BMW Holdings in China, has been officially licensed. On December 31, Great Wall Motor announced that Liang Liang Automobile Co., Ltd. had received a business license issued by the Zhangjiagang City Market Supervision Bureau.

The data also show that the registered address of Light Motor is No. 1 Guotai North Road, Zhangjiagang Economic and technological Development Zone, Zhangjiagang City, Jiangsu Province, and the legal representative is Zhao Guoqing, Senior Vice President of Great Wall Automobile and Chairman of Light Motors, with a registered capital of 1.7 billion yuan. The business period is from December 27, 2019 to December 26, 2034, for 15 years.

The beam automobile production base project has a total investment of 5.1 billion yuan, the construction scale is the annual production of 160000 fuel passenger vehicles for full export manufacturing and pure electric passenger car development, is expected to have about 3000 employees. In the future, pure electric vehicles under the MINI brand of BMW Group and new products from Great Wall will be put into production here.

Beam Automobile is a Sino-foreign joint venture company jointly funded by 50% for Great Wall Motor and BMW, which is the first joint venture project of Great Wall Motor and the first pure electric vehicle joint venture project of BMW in Germany. The cooperation model of the two sides also adopts the "joint venture not joint venture" mode for the first time, that is, the joint development and production of cars, but the products will be sold into the respective sales and service networks of BMW Group and Great Wall Motor respectively.

On November 29, 2019, the beam automobile project, a joint venture between BMW Group and Great Wall Motor, was officially launched in Zhangjiagang City, Jiangsu Province. The production base project is scheduled to start in 2020 and completed in 2022.

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