BMW puts China first in upgraded strategy

German carmaker BMW has announced in a strategy upgrade that it is "At Home in China" and accelerating a "China First" approach.

China, the world's largest car market, which accounts for one-third of all BMW vehicle sales, is also becoming the company's largest production base globally, with three new or upgraded plants to start operation in the country.

"BMW Group will continue to be confident and committed: 'At Home in China' and synchronizing with China's economy and society for a win-win future," the company said in a news release.

It added, BMW Group will participate in China's innovation and green development and join hands with Chinese partners to promote development and transformation and digital innovation.

Nicolas Peter, management board member of BMW AG responsible for Finance and China Affairs, said he feels "at home" when visiting China, "what moves China today will move the world tomorrow. It is a perfect place and a great partner for the BMW Group to drive transformation".

He added that one in three vehicles delivered by BMW were to Chinese customers this year, which "highlights the Sino-German trade". The year 2022 will mark the 50th anniversary of the establishment of diplomatic ties between the two countries.

Jochen Goller, president and CEO of BMW Group Region China, said the upgraded strategy is to apply a "China First" approach.

Besides synchronizing with its global strategy, "China First" also means being independent enough to respond quickly to market changes, especially taking account of the expectations of Chinese customers at an early phase.