BMW Buying Out Brilliance Automotive in China, Adding Capacity for U.S.

Now that China has relaxed its joint-ownership mandates, BMW has announced that it will procure a majority stake in its venture with Brilliance Automotive. The German firm will be the first foreign automaker to have majority control of its business in the region.

Being first will not come cheaply, however. It will cost BMW $4.2 billion to assume control with a majority stake of 75 percent of the business — albeit as part of a larger deal. All the manufacturer has to do is come up with the funds and wait until 2022, when rules limiting foreign ownership for all Chinese auto ventures are officially lifted.

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  • Chris P Bacon I don't care either way, the employees have the right to organize, and I'm never going to buy a VW. But.... It would be interesting if the media (HINT HINT) would be able to provide a detailed look at what (if anything) the VW workers gain by unionizing. There will be dues to pay. How much? I bet the current policies, pay and benefits mirror other auto companies. When all is said and done an the first contract signed, my money is on the UAW to be he only ones who really come out ahead. That leads into my next comment. Once a union is voted onto the property, it is almost impossible to get rid of them. Even if the membership feels the union doesn't have their best interests in mind, the hurdles to get rid of them are too high. There were a lot of promises made by the UAW, even if they don't deliver, they'll be in Chattanooga even if the membership decides they made a mistake.
  • 1995 SC How bout those steel tariffs. Wonder if everyone falls into the same camp with respect to supporting/opposing them as they did on the auto tariffs a few weeks ago. Doubt it. Wonder Why that would be?
  • Lorenzo Nice going! They eliminated the "5" numbers on the speedometer so they could get it to read up to 180 mph. The speed limit is 65? You have to guess one quarter of the needle distance between 60 and 80. Virtually every state has 55, 65, and 75 mph speed limits, not to mention urban areas where 25, 35, and 45 mph limits are common. All that guesswork to display a maximum speed the driver will never reach.
  • Norman Stansfield Automation will make this irrelevant.
  • Lorenzo Motor sports is dead. It was killed by greed.