"BMW teamed-up with Great Wall Motors to build a new EV plant in Jiangsu Province, China, with a production capacity of 160,000 cars per year. BMW is investing €650 million in the plant which is expected to start operation from 2022. It will produce both BMW’s Mini brand as well as Great Wall cars. China is the world’s largest EV market and the Chinese government’s New Energy Vehicle Policy, which was revised this year, opened the EV market for global automakers. The Chinese EV market saw steep declines in EV shipments during 2019 and Chinese automakers are struggling for economies of scale. BMW is following in Tesla’s and Volkswagen’s footsteps in China. The Mini has been underperforming, so this investment will likely help Mini regain its position." – Soumen Mandal