Qi Yumin:new investment exceed 4 billions

It is reported by SOHU that on the afternoon of November 12th, Germany’s BMW Group and Brilliance Auto Group held a press conference at the Great Hall of the people in Beijing, announcing to increase capitals, expand production capacity and introduce new products to BMW Brilliance. Before the signing ceremony, SOHU firstly interviewed Qi Yumin, chairman of Brilliance Auto Group. Qi Yumin said the capitals increased by the shareholders of the two sides would be more than 4 billions Yuan reported previously by the media. As to whether it would reach 5 billions, Qi Yumin laughed off the question.

Qi Yumin said the capitals increased would be spent in expanding production capacity of the jointventure. The projects in the second phase include two aspects, first, expand the first plant’s capacity to 7.5 million units and simultaneously establish a new second plant. He also referred to form an engine plant to introduced BMW's engine to domestic production.

Qi Yumin expressed that the main reason why two sides make this decision before negotiating for several years was not because a lack of money but the lack of project (new products).

Referring to the new products, Qi Yumin asserted that “there will be definitely new products”. As to the kinds of new models, he said “it needs full imagination”. So far as SOHU concerned, the second plant will produce longer-version of BMW’s 3 Series and 5 Series sedans. 3 Series and 5 Series sedans will be totally renewed next year. Especially it will be the first time the longer-version of BMW’s 3 Series sedans appear in Chinese market.

　　The following is the record of the interview:

SOHU: Is there any engine plant previously?

Qi: Not any. It (BMW) will introduce it to China this time.

SOHU: And the investment is to reach 5 billion?

Qi：(laughing)

SOHU: since the 1 Series and X3 Series sedans are different, the consumers easily pay special attention to them?

Qi: as to the car models, there are definitely new models. But what models? It needs your full imagination.

SOHU: But the longer-version of BMW’s 3 Series and 5 Series sedans especially made for China. This, is a fixed point?

Qi: longer-versions…This is also not confirmative.

SOHU: There is once a saying that you will establish a second plant. Is it different from the present calling the expanding project in the second phrase?

Qi: Yes. The first plant you know the production capacity is 30 thousands units. After that, we will found a new plant. Now what is called the expanding project in the second phrase clearly means the building of a second plant as well as the production capacity expanding of the first plant.

SOHU: The total production capacity is to reach 300 thousands units?

Qi: The number will be announced today.

SOHU: what is the main cause of the three-year-long contract can be successfully reached this time?

Qi: just demonstration. Now in China what matters is whether there are valuable projects. Have we quitted signing the agreement in the face of such excellent projects?(Translator: Yalong/ Jessie)

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