The head of the China division of German auto giant BMW says the group is looking to expand on its footprint in the country and says now is the right time to invest in China.
Sean Green, president and CEO of the BMW Group Region China, said the multinational auto manufacturer is continuing to increase their investment in China, which demonstrates their strong confidence in the Chinese market.
Green noted the BMW Group has established its biggest production base and the largest research and development system outside of Germany in China, and has a strong presence in several cities.
"Our research development department is the biggest R and D department outside of our German head office. So research [and] development is really one of the strengths we have here with four different sites, in Shenyang, in Shanghai, Beijing, and most recently in Nanjing. So [we have] an extremely strong footprint here in China for success, not only here in China to give to our consumers the best products we can, but also to influence the worldwide offer, because what we can develop here in China can be successful everywhere in the world," said Green during a recent interview with China Central Television (CCTV).
He also highlighted that advanced technologies, such as 5G, have been applied in the production line of BMW factories in China which is helping the company boost its operations.
"5G was the first production facility we had anywhere in the world. By having the 5G applications allows you this perfect seamless connectivity within the building," Green said.
Last year, work began on the BMW Group's new battery production plant in the northeast city of Shenyang City, which features a total investment of 10 billion yuan (about 1.37 billion U.S. dollars) and is expected to create more than 2,000 jobs after its completion.
Since 2010, around 100 billion yuan has already been invested in the BMW Shenyang Production Base and its projects, with the production capacity rising to 830,000 units per year.
In the face of doubts and questions towards the Chinese economy, Green insisted that BMW still has faith in China and will continue its efforts to expand its business, which may inspire others to follow suit. He also noted thay BMW Brilliance Automotive Ltd., the the group's joint venture in China which was established in 2003, now has over 400 local suppliers in the country.
"Investing [in China] right now as we did in Europe and the U.S. during the financial crisis was the right time to invest, and we're very lucky that we have a very strong supply chain in and around not only Shenyang, but Liaoning, and also the rest of China with about 450 local suppliers. So when we invest, and we show the confidence, we actually lead the way for others as well," Green said.
BMW China CEO affirms expansion plans, calls China investment timing ideal
