February 23, 2018 / 9:52 AM / 7 months ago

BMW, Great Wall sign letter of intent for electric Mini JV

FRANKFURT, Feb 23 (Reuters) - German premium carmaker BMW and Great Wall Motor Co. have signed a letter of intent to set up a joint venture for the production of electric Mini vehicles in China, BMW said on Friday.

“Next steps will be to agree on the details of a possible joint venture and cooperation agreement and clarify aspects such as the choice of production location and concrete investments,” BMW said.

It said it would separately further expand its existing Chinese manufacturing venture with Brilliance.

Reporting by Maria Sheahan; Editing by Tom Sims

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