Great Wall & BMW, page-61

Per caradvice.com.au
(Check update at end of article)
Great Wall Motor Company Limited (GWM) has issued the following statement regarding rumours of a potential joint venture with BMW:

“Great Wall Motor Company Limited (GWM) has issued a statement in relation to media reports about the potential creation of a joint venture with BMW.
GWM would like to clarify that:​

1. As of the date of this announcement, GWM and BMW have not entered into any legal documents for the establishment of a joint venture in China.​

2.As of the date of this announcement, the basic information regarding the discussion between GWM and BMW about the feasibility of co-operating to produce vehicles under the MINI brand is as follows:​

• • 
    (a) Both parties entered into a confidential agreement on 18 April 2016 for the feasibility of research and development of battery electric vehicles and traditional power vehicles.

• • 
    (b) Both parties entered into an agreement on 21 February 2017 for discussion and evaluation on the feasibility of co-operating to produce vehicles under the MINI brand.

As of the date of this announcement, save as the above agreements, GWM has not entered into any other related agreement with BMW.”​