China's Chongqing Lifan sole bidder for BMW Brazil auto engine plant
SHANGHAI (AFX) - Chongqing Lifan Group, one China's leading motorcycle makers, has emerged as the sole bidder for an auto engine plant in Brazil, the Shanghai Daily reported citing company officials.
The private company, which received government approval to start making cars in China in December, is the only bidder for Tritec Motors Ltd in Campo Largo, Brazil, currently owned by BMW Motors Corp.
The officials declined to provide details on its offer, it added.
Tritec Motors is a 5 mln usd joint venture formed by BMW and DaimlerChrysler Corp, producing technologically advanced and fuel-efficient engines. The engines are used in BMW's Mini Coopers and in DaimlerChrysler's PT Cruisers and Dodge Neons.
'After the purchase, we plan to buy the whole production line, take it apart and ship it back in pieces. It will be re-assembled in Chongqing City in China,' a marketing department executive who gave only the name Lu told the paper.
Lu said the company hoped to acquire more core and advanced technology and shorten the time for developing its own engines.
The company has invested about 90 mln yuan to set up four core production lines with annual output of 20,000 units. Investment in the facilities will amount to 2.4 bln yuan, most of which will be spent on technology, the paper said.
The private company, which received government approval to start making cars in China in December, is the only bidder for Tritec Motors Ltd in Campo Largo, Brazil, currently owned by BMW Motors Corp.
The officials declined to provide details on its offer, it added.
Tritec Motors is a 5 mln usd joint venture formed by BMW and DaimlerChrysler Corp, producing technologically advanced and fuel-efficient engines. The engines are used in BMW's Mini Coopers and in DaimlerChrysler's PT Cruisers and Dodge Neons.
'After the purchase, we plan to buy the whole production line, take it apart and ship it back in pieces. It will be re-assembled in Chongqing City in China,' a marketing department executive who gave only the name Lu told the paper.
Lu said the company hoped to acquire more core and advanced technology and shorten the time for developing its own engines.
The company has invested about 90 mln yuan to set up four core production lines with annual output of 20,000 units. Investment in the facilities will amount to 2.4 bln yuan, most of which will be spent on technology, the paper said.
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