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BMW says needs local partner to accelerate Mini growth in China

Reuters - UK Focus

MUNICH, Oct (Shenzhen: 000069.SZ - news) 13 (Reuters) - BMW (EUREX: BMWE.EX - news) would like to grow its Mini brand in China with the help of a Chinese partner, the group said on Friday, after China's Great Wall Motor (Shanghai: 601633.SS - news) said it was in talks to cooperate with the German premium carmaker.

"It is only possible to accelerate growth of Mini in China with a local partner," BMW said.

Great Wall Motor said it was in talks with BMW to cooperate on vehicles, including those the German firm produces under the Mini brand, and that the pair have not yet agreed on any new ventures.

Reuters earlier this week reported the two automakers were looking to establish a joint venture in China. (Reporting by Irene Preisinger; Writing by Maria Sheahan; Editing by Tom Sims)