BMW confident in Chinese economy, says chairman

BMW is confident in China's economic prospects and intends to scale up its investment in the country, said Oliver Zipse, chairman of the board of management of the German car group.

He made the remarks in a statement that BMW released on Saturday night, while Zipse visits China as a member of German Chancellor Olaf Scholz's business delegation.

For 30 years, BMW has been deeply rooted in China, benefiting from free trade and China's opening-up policy, he said.

Today, China is BMW's largest market worldwide. Last year, the German carmaker sold over 820,000 vehicles in the country, accounting for roughly one-third of its global deliveries.

Zipse said the company's successful development in China is closely intertwined with the country's economic progress and social development over the past three decades.

China is now home to BMW's largest research and development network outside Germany. Its production base in Shenyang, Liaoning province, is one of its largest and most advanced across the globe.

The carmaker is introducing its latest products into China. It will start production of its latest Neue Klasse vehicles at the Shenyang production base in 2026.

Zipse said the models, which will first come out in 2025, are "not a new chapter in the history of mobility" but instead "a whole new book".

BMW has invested 10 billion yuan ($1.38 billion) on a battery project in Shenyang for the Neue Klasse vehicles.

Statistics show that the accumulative investment in the Shenyang base has exceeded 100 billion yuan since 2010.

"China is the place to be. Our continued success in the world's largest automotive market can only go hand in hand with the continuous growth and development of our local footprint in the country," said Zipse.