March 18, 2003	Tuesday	Muharram 14, 1424

BEIJING, March 17: German automaker BMW has won approval from China to forge a joint venture with partner Brilliance China Automotive Holdings in China’s northeastern Liaoning province, state press reported on Monday.

The deal between the luxury car maker and one of China’s biggest auto manufacturers will see China-made BMW sedans rolling off production lines in Shenyang by the end of October, the Shanghai-based International Finance News reported, citing sources from both companies.

The 50-50 venture will have annual combined capacity of 30,000 units. Brilliance’s facility will build the sporty BMW 3-Series as well as the larger BMW 5-Series sedan.

BMW plans to invest $486 million in the venture.—AFP