TU-TESL

• 22

After a period of low-key BMW joint venture project, news of new progress finally came out. Recently, Great Wall Motors (601633) announced that the production base project of beamcar had been approved by Jiangsu development and Reform Commission on November 21. This means that the project can be formally started. According to the announcement, the planned start-up time of beaming automobile production base is 2020, and the planned completion time is 2022. The total investment of the project is about 5 billion 100 million yuan. The construction scale is the annual output of 160000 oil-fired passenger vehicles for full export manufacturing and passenger vehicle development. The construction period is 24 months. The project covers an area of about 930 mu, the new building area is about 274657 ㎡, and about 460 sets of production and testing equipment are purchased. The construction of fuel passenger vehicle manufacturing part includes stamping workshop, welding workshop, coating workshop, general assembly workshop, test track and other facilities to produce and manufacture full export fuel passenger vehicles; the construction of pure electric passenger vehicle R & D and trial production part includes technology building and other R & D rooms to research and develop a new generation of safe, environmental protection and intelligent electric vehicles. The project approval of the production base of beamcar is only for the full export manufacturing of fuel passenger vehicles and the development of pure electric passenger vehicles. Before the production and sales of pure electric passenger vehicles, the approval of the whole vehicle project is required. On July 10, 2018, under the witness of the prime ministers of China and Germany, Great Wall signed a joint venture contract with the company, with 50% of the shares held by both sides, and beamcar came into being. This is BMW Group's first pure electric vehicle joint venture project in the world, and it is also the bridgehead of great wall new energy automobile towards internationalization. According to the original plan, the first model of beamcar will be a pure electric compact model with a endurance of more than 500km, which will be put into production in 2021, while the second model is mini pure electric model. However, it is pointed out in the announcement that "the planned completion time of the project is 2022", so the production time of the first vehicle may be delayed. It is less than two years since the establishment of the BMW Great Wall joint venture project. There is still a way to go in terms of process approval, capital investment, team building, product research and development.