To produce energy vehicles and to expand more into this category, BMW, the German premium car maker company, and China’s Great Wall Motor has joined hands. Yesterday, Great Wall Motor announced officially that their company has signed a contract with BMW AG under this context.
Both the companies are examining the scopes and reasonableness of the project through this joint venture as per the letter of intent. Crucial facts like the business model and the investment scale have been kept on hold though. Under this agreement, the Great Wall Motor will serve as the major shareholder along with its associates, whereas BMW will take the part of the minor shareholder.
The main priority of the duo will revolve around producing new cost-effective energy vehicles, developing them and to implement them in real – life situations. Great Wall in an official announcement said this joint venture with BMW will be beneficial to evolve its technologies which will further meet the needs of the consumers.
If the foreign media reports to be believed, BMW and the Great Wall exclusively signed the deal in order to fabricate a Mini electric car which will lead to less pollution as well as less deployment of natural resources. The final product would be available around the early 2020’s. The existent models present in the market, produced by BMW are of pure electric i3, a series of plug-in hybrid vehicles. But these are not that much suitable for use on a day to day basis. Hence, by the end of 2025 BMW plans to present 25 electric or hybrid models including 12 pure electric models.