Luxury automaker BMW on Thursday launched a new plant in the northeast China city of Shenyang to further tap into the world's largest auto market.
The capacity of the new 1.5-billion-euro plant, BMW's 25th worldwide and the second in China, will rise to 200,000 vehicles at the end of 2013, adding to the 100,000 cars currently produced at another factory in the Dadong district of Shenyang. (1.5 billion euros is equal to 1.89 billion U.S. dollars.)
As one of BMW's top three markets worldwide, China offers tremendous potential for future growth, Norbert Reithofer, chief executive officer of BMW, said at the inauguration ceremony.
BMW plans to further boost investment in China and purchase more parts from the Chinese market, Reithofer said.
China was BMW's largest market by sales in the first quarter of this year, surpassing Germany and the United States, he said.
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