MINI to build cars in China with Great Wall

BMW said that this approach did not put into question its commitment to Mini factories in the U.K. The company also said that it wants to expand its business with its existing joint-venture partner BMW Brilliance Automotive (BCAUY) in China.

It appears that MINI production is about to venture into China for the first time, if a report by Bloomberg is to be believed.

The Mini brand's planned expansion in China "does not call into question our commitment to our facilities in Britain", BMW said in a statement.

Association with Great Wall would see increase in both BMW's production volume and its EV share in one of the largest automobile industry in the world. Ltd. said Friday that it is in talks for a joint venture to make BMW's Mini auto models in China, ending days of speculation that had sparked a rally for the Chinese company's shares.

If the JV project moves ahead, it will be BMW's second partnership operation in China. But China's state planner has said that in principal it will not approve any new foreign joint ventures involving traditional gas-powered cars because the market is already oversupplied. It added they entered another agreement in February this year to evaluate the feasibility of cooperation for vehicles under the Mini brand.

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Thus far neither automaker has officially commented on the reports.

A Great Wall official declined to comment.

The firm's shares soared as much as 19.2 percent to their highest level in over two years, before paring some gains to stand up 14 percent in afternoon trade.

Trading would be suspended pending clarification of press articles, the company said. Trading in the stock will resume on Monday, the company said.

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