Home » Money

BMW might spin off Mini making

13 October, 2017, 17:31 | Author: Jeff Stephens
  • BMW is looking to expand its presence in China to build EVs potentially with Great Wall Motors

Sergio Marchionne, CEO of FCA said his company won't consider selling Jeep as a separate entity and rejected the idea of making a deal with Chinese rival Great Wall Motor Co, reports Bloomberg.

German luxury automaker BMW is looking to form a joint venture with Great Wall Motor in China, which could focus on electric vehicles, according to two sources familiar with the matter on Wednesday.

The carmakers have been discussing plans to launch electric and conventional Mini models for 18 months, Great Wall said in a stock exchange filing that described the talks as preliminary.

The Evil Within 2 Launch Trailer Is Suitably Gruesome
Called Classic, this more gruelling version of Nightmare is only available after finishing the game once. Will Sebastian face adversity head on with weapons and traps, or sneak through the shadows to survive.


While BMW already builds cars locally in a venture with Brilliance China Automotive Holdings Ltd, Great Wall doesn't have any carmaking partners in China. That strategy helped propel the company to a 26 percent sales surge a year ago.

Great Wall did not specify if the new venture would make traditional gasoline-powered Mini models or electric ones, though it did say that some output could eventually be exported.

The Mini small auto, first built to tackle soaring fuel prices in the late 1950s, has evolved over the years and the vehicles are now produced in the United Kingdom and the Netherlands.

Father of freed Taliban hostage: 'He wants to be home'
The early Thursday rescue operation "by Pakistani forces, based on actionable intelligence from USA authorities was successful". A US government source in Washington also said there was no indication the family had been in Afghanistan.


The Mini brand's planned expansion in China "does not call into question our commitment to our facilities in Britain", BMW said in a statement.

BMW is now considering another joint venture in China so that it can increase its production volumes and strengthen its electric vehicle presence in the market. It is the country's second-largest premium brand after Volkswagen AG's Audi AG.

A Great Wall official declined to comment. The company suspended trading in the shares on October 12 and September 29 respectively.

Russia-Linked Campaign Targeted Pokemon Go
This "contest" required people to take screen shots from their phone and share over other social networks, not within our game. The Facebook , Instagram and Twitter accounts related to Don't Shoot Us have all been suspended according to CNN .


Recommended:



Popular

China's goods trade volume up 16.6 pct in Jan.-Sept
The surplus with the United States reached $28.1 billion in September, up from $24.9 billion in September of past year . The customs agency said it will publish details its trade in specific products with North Korea on Oct 23.

Maine Sen. Susan Collins Announces She's Staying in US Senate
Collins put an end to months of speculation when she made her announcement at the Samoset Resort in Rockport Friday morning. But a gubernatorial bid by Collins would also have been risky - the biggest threat coming from within her own party.

Plight of Rohingyas: SC stresses balance between national security & human rights
Since August 25, around 4 lakh Rohingyas have fled the country and a lot of them are living in refugee camps in Bangladesh. The apex court said that a balance has to be struck between human rights & national interests.

Uber files appeal against Transport for London
A man poses holding a smartphone showing the App for ride-sharing cab service Uber in London on September 22, 2017. Earlier this week, London mayor Sadiq Khan said the appeal against Transport for London "will take its course".

Nadal crushes Fognini, Federer joins him in quarters
But there was little fight from the 30-year-old as Nadal lost only six points on serve in the opening set. Earlier, Marin Cilic , ranked fourth, showed the exit to the American Steve Johnson 7-6 (1), 6-4.

Alphabet Inc. (GOOGL) Rating Reiterated by Jefferies Group LLC
July 21 investment analysts at Deutsche Bank maintained a stock rating of "Buy" and lowered the price target to $1.00 from $1.00. ILLEGAL ACTIVITY WARNING: This news story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes.

Jones Wanting Players To Stand For National Anthem "To Remove Debate"
Three Miami players who had been protesting during "The Star-Spangled Banner" were not on the field during the anthem this week. Ross asserted that the issue past year was raising awareness for equality and other subjects that did not involve patriotism.

Patriots' Tom Brady battling shoulder injury, report says
According to NBC Sports , Brady suffered the injury during the Patriots loss to the Carolina Panthers on October 1. One thing the Patriots can not do is allow the AC joint sprain to get worse due to another on-field beating.

Vegas Golden Knights will honor #VegasStrong for home opener
Defenseman and Las Vegas resident Deryk Engelland addressed the crowd following a video showing images of first responders . The Knights have had a nice start to their inaugural season, winning their first two games on the road.

Court defers Sharif's indictment after clash
Sharif's wife Kulsoom, who is suffering from throat cancer, has undergone three surgeries in the United Kingdom so far. On Oct 9, the accountability court observed that Sharif, Maryam Nawaz and Capt Safdar would be indicted on Oct 13.