Chinese market of significant strategic importance as Chinese modernization shares opportunities with world: BMW senior official
Reiterating its long-term commitment to China, German auto giant BMW AG is determined to become a partner on the Chinese path to modernization, which shares opportunities with the world, according to Oliver Zipse, chairman of the Board of Management of BMW AG.
The remarks were made on March 26 in Beijing during the China Development Forum 2023, when Zipse pointed out that the growth and prosperity of BMW's business in China would also inject new impetus and create new opportunities for the company's business in the global markets.
As BMW's largest single market, China is of significant strategic importance, Zipse noted, introducing that the German company has established in China its largest R&D layout outside of Germany, as well as the largest production layout among all countries.
Since 2010, the BMW plant in Shenyang, northeast China's Liaoning Province has received total investment of more than 83 billion yuan (about 12.06 billion U.S. dollars), growing into a cornerstone of the company's development in China and a model of Sino-German trade cooperation.
In 2023, BMW will offer 11 pure electric models in the Chinese market, as the company is currently moving forward with the transition of electric, digital and sustainable development. Citing the cooperation between BMW and China's electric vehicle battery maker Contemporary Amperex Technology Co., Ltd. (CATL) as an example, Zipse pointed out that not only has BMW's investment created many jobs in China, but also has CATL's investment in Europe brought prosperity to the region. "The transformation toward e-mobility provides opportunities for both European industries and Chinese enterprises," said Zipse.
While sharing development opportunities with the world, Chinese modernization also promotes innovation and sustainable technology development on a global scale, building bridges of friendship across the globe and sending out persuasive messages of multilateral cooperation, according to Zipse.