The German car manufacturer BMW group, together with China’s Great Wall Motor, is to construct a plant that will produce future fully-electric models of the famous Mini car brand.
The facility’s construction phase is slated to take place between 2020 and 2022, and it will be located in the city of Zhangjiagang, Jiangsu Province, the BMW Group said Friday.
According to CNBC, the two firms have set up a joint venture called Spotlight Automotive Limited and the combined investment in the plant will amount to approximately 650 million euros ($715 million). Once up and running, the factory line will have the capacity to produce as many as 160,000 vehicles annually.
The company stated that, alongside the manufacture of vehicles, the joint-venture will also focus on the “joint development of battery electric vehicles. The Mini Electric is already being built in Oxford, England. It is due to hit showrooms in March 2020 with prices officially starting at £27,900.
CNBC reported that worldwide electric car sales hit 1.98 million in 2018, according to the International Energy Agency (IEA), with the global stock reaching 5.12 million.
China’s electric car market is the biggest on the planet – a little over one million electric cars were sold there last year — the IEA says, with Europe and the U.S. following behind.