Bayerische Motoren Werke AG (Frankfurt: BMW) announced Thursday it is opening a car factory in Tiexi, China, with its joint venture partner Brilliance China Automotive Holdings Ltd. (Hong Kong: 1114) to increase its capacity to 300,000 vehicles annually, up from 100,000 rolling out of the company's plant in Da Dong.
The new factory is part of BMW increasing its China investment by €500 million ($628 million) to €1.5 billion in the last three years. China was BMW's largest market in the first four months of 2012, with 107,211 vehicles sold in that period.
