BMW may partner with Great Wall to expand Chinese production

BMW X1 long wheelbase

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. That strategy helped propel the company to a 26 percent sales surge past year.

BMW and rival Mercedes are betting they can mass produce new electric cars based on conventional vehicle design, defying sceptics who say they will need more radical plans to head off the threat from Tesla and other start-ups. "Leveraging the growth of Mini in China is only possible with a local partner", the company said.

The German automaker has announced sales of electrified vehicles through the first three quarters of 2017 have already exceeded all of previous year.

Bernstein analysts said they believed that any new venture of BMW and Great Wall would have to sell exclusively electric vehicles (EVs), given China's moratorium on approvals for new gasoline auto businesses. Rolls-Royce however, saw a decrease in sales of 10.7 percent to 2,343 units, but it's worth noting the Phantom is missing from the brand's lineup now as the new model is getting ready to roll out starting next year.

US Consumer Prices Rise 0.5% In September, Slightly Less Than Expected
Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday. US crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent.

"China has made it clear that basically it will not approve of new gasoline-car partnerships". The German carmaker now has a joint venture with Brilliance China Automotive Holding, with the contract to expire by 2028. A new report, however, hints at MINI being the brand in focus for this new venture. The company said its shares will resume trading when markets open on Monday.

Thus far neither automaker has officially commented on the reports.

Patrick Yuan, an analyst at Jefferies Hong Kong, said it is understandable that BMW needs a new partner to defend its market share in a more competitive market.

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