China's electric car market is the biggest in the world.
Volkswagen Group China and Renault are also making moves there.Tolga Akmen | AFP | Getty Images, together with China's Great Wall Motor, is to construct a plant that will produce future fully-electric models of the famous Mini car brand.
The two firms have set up a joint venture called Spotlight Automotive Limited and the combined investment in the plant will amount to approximately 650 million euros . Once up and running, the factory line will have the capacity to produce as many as 160,000 vehicles annually. "This joint venture will enable us to produce a larger number of Mini-brand-fully electric vehicles at attractive conditions for the world market," Nicolas Peter, a member of BMW AG's board of management, responsible for finance, said in a statement.
The Mini Electric is already being built in Oxford, England. It is due to hit showrooms in March 2020 with prices officially starting at £27,900 .
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