BMW Wins Approval for China Car Venture

Bayerische Motoren Werke won government approval for a venture with Brilliance China Automotive Holdings Ltd., allowing the world’s No. 2 maker of luxury cars to build vehicles in China for the first time.

BMW and China’s largest minivan maker plan to manufacture 3- and 5-Series sedans at the local partner’s northeastern Shenyang plant, the companies said. The venture plans to start making cars in the second half of next year and targets annual production of 30,000 vehicles.

The German company, whose sales have risen 18% this year, wants to make cars in the world’s most populous nation to catch up with rivals. Car sales in China surged 54% to 91,586 units in June from a year ago.