China's top 10 auto industry stories, trends during 2018

BMW takes major stake in JV

BMW AG announced in October that it had inked an agreement with Brilliance China Automotive Holdings to raise its equity in their joint venture to 75 percent from the current 50 percent. The move will make BMW the first international carmaker to have a majority stake in its joint ventures in China. The transaction, which is valued at 29 billion yuan ($4.2 billion), is expected to be completed when the Chinese authorities remove limits on foreign ownership in passenger car joint ventures in 2022.

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