Bmw plans to build two new factories in emerging market

Article by Christian A., on May 12, 2011

BMW AG is studying potential sites in emerging markets, which the company now refers to as BRIKT, for its two new plants. At the company’s annual shareholders meeting in Munich, Chief Executive Officer Norbert Reithofer presented the plans for plant expansion.

Currently, the company continues to study locations for a factory in Brazil. This expansion plan has already been disclosed last March during the press conference for the company’s annual financial results.

In addition, the company is evaluating sites for the second plant in Russia, Korea, India or Turkey. Previously, the company used the term BRIC to refer to developing markets, which are Brazil, Russia, India and China. Now, the company uses BRIKT, which removes China from the picture and adds Korea and Turkey.

On another note, the company is planning to pay a record profit-sharing bonus this 2011 based on the results last 2010. For this matter, employees under collective-bargaining deals will have an average of 5,840 euros, which is an amount that is 1.6 times the monthly wages.

The company confirmed its target of increasing its profit for this year, selling more than 1.5 million cars, which is an increase from the 1,461,166 BMW, Mini and Rolls-Royce units sold last year. The best sales year ever for BMW Group was 2007 when it recorded sales of 1,500,678 units from its three brands.

Topics: bmw

If you liked the article, share on:

Comments

Recommended

Polestar is notably known to be Volvo's internal performance specialists, and around last year Polestar revealed to the public that it will utilize electrification to further advance the power of...
by - June 26, 2017
Earlier this month, Porsche introduced to us the 911 Turbo S Exclusive Series. The car wore a Golden Yellow Metallic paint. The same time it was launched, the company said...
by - June 26, 2017
Last month, the Lamborghini Centenario made its way to the Transformers: The Last Knight premiere where it got the attention of many. Following that event, three Lamborghini Centenario coupes landed...
by - June 26, 2017
The Holy Trinity of hypercars may not be accessible anymore after being discontinued, but that doesn’t mean we won’t see any more hypercars in the future. What we know is...
by - June 26, 2017
Kia is taking things a step further with the new Kia Stinger, which they first introduced at the 2017 Detroit Auto Show. With the specs given to us by the...
by - June 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries