BMW Brilliance Automotive Co., a Chinese joint venture between BMW and Brilliance Automotive, plans to build an electric car that will be marketed under the newly created Zinoro brand. The electric car will be built by the joint venture at its Tiexi plant in Shenyang, China and will be rolled out in the first quarter of 2014.
BMW Brilliance Automotive remarked during a press conference last week that Zinoro means "honoring promises." The joint venture also builds the BMW 3 series, 5 series and X1 in Shenyang. The Chinese government requires foreign carmakers producing vehicles in China to create new brands for their local joint ventures.
The joint ventures of General Motors, Toyota, Honda and Nissan have already started marketing their own brands. The Toyota, Honda and Nissan brands are stored with models produced on the carmakers' old vehicle platforms. On the other hand, BMW said that group sales in China surged 5 percent year-on-year in March 2013 to 32,200 units, helping it retain its position as the country’s second-largest luxury carmaker.
BMW posted a 7.4-percent jump in brand sales the first three months of 2013 to 80,570 units. Audi, which currently leads the China luxury car market, posted an 8-percent hike in China in the first quarter of 2013 to 102,810 units. Mercedes-Benz suffered a contrasting fate after seeing its sales drop 12 percent to 45,440 units.