Speech of Prof. Milberg at a media briefing in Beijing

Key points of the speech of Professor Dr.-Ing. Joachim Milberg, Chairman
of the Board of Management of BMW AG, to journalists in Beijing on Oct
26, 2001: * The BMW Group's wish to gain a stronger presence in China
follows directly from the corporate strategy and the development of the
market. The BMW Group is committed to China. * In the year 2000 sales
of BMW cars in China amounted to almost 4,000 units. In the first nine
months of this year alone, BMW has already sold more than 4,600 cars in
this country. Therefore a very good overall sales result is expected in
China throughout the whole of 2001 - that is well over 5,000 units. *
Outlook for the future of the BMW Group in China is very optimistic. It
is BMW's objective to become the No 1 premium manufacturer also in this
country. * This is why BMW plans to have local production in the future
also in China, naturally maintaining all of BMW's worldwide quality
standards. * Thus, BMW is consistently pursuing philosophy that
production follows the market here in China as well. * BMW has
researched the market for years, looking for the right partner able to
build BMW cars in full compliance with the BMW quality standards
applicable the world over. * The criterion essential to BMW is not
size, but rather the right concept applied by BMW partner in accordance
with specific needs and requirements. * Teaming up with Brilliance
Automotive Holdings, BMW is happy to state that it has found a
competent partner that it can successfully achieve corporate
objectives. * In the course of the licensing and permission process BMW
has submitted a joint venture project proposal to the responsible state
authorities. The full speech can also be downloaded.