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The story
On 27 March 2003 BMW and Brilliance Auto agreed to form a joint venture to produce BMW cars for the Chinese market, with BMW holding a 50 per cent stake, Brilliance Auto 40.5 per cent and the Shenyang municipal government 9.5 per cent. BMW and Brilliance agreed to invest an initial €450 million (US$483 million) in the venture. The first Chinese-made BMW, a BMW 325, was sold in October 2003.
In April 2009 BMW Brilliance announced that it would construct a second automobile assembly plant in China. Construction of the plant began in Shenyang in June 2010, with a planned cost of US$73.53 million and a production capacity of 100,000 units. Production at the plant began in May 2012.
In January 2011 BMW Brilliance announced that it would begin Chinese production of a BMW 5 series electric hybrid car later that year.
In 2013, BMW Brilliance opened a research and development centre. It was expanded in 2020, making it BMW's largest R&D centre outside of Germany.
In October 2018, BMW announced that it would increase its stake from 50% to 75%, making BMW the first foreign carmaker to take majority control of its joint venture in China.
In February 2022, BMW acquired a majority 75% stake in BMW Brilliance with Brilliance indirectly owning the remaining 25% of the company.
From Wikipedia’s article on BMW Brilliance, shared under CC BY-SA 4.0.4