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Factbox: German companies sign contracts with Chinese partners

Reuters  |  FRANKFURT 

(Reuters) - German companies signed a series of agreements with during a visit by Chinese to on Monday and Tuesday.

Following are details of them:

BASF

signed a Memorandum of Understanding (MoU) with China's to look at building a highly integrated there, said.

The site would be largest investment and would be operated under its sole responsibility, it said. The investment is estimated to reach up to $10 billion by completion of the project around 2030, it added.

and joint venture partner affirmed plans to expand production capacity at Brilliance Automotive's two sites in to a total of 520,000 BMW brand vehicles in 2019.

The two companies also agreed that the all-electric would be exported from to other markets.

BMW agreed to source 4 billion euros' ($4.7 billion) worth of battery cells from Ltd (CATL) over the next few years, including from a new plant in Erfurt, eastern Germany, that CATL is building.

BMW also signed an MoU with to join its autonomous driving platform as a

BMW and China's signed an agreement to set up a joint venture for their planned production of Mini brand electric vehicles in

BOSCH

and Chinese electric vehicle startup NIO agreed to cooperate on sensor technology, automated driving, electric motor controls and intelligent systems.

CONTINENTAL

Chinese ride-sharing company said it signed an agreement with to jointly develop connected vehicles and design purpose-built electric vehicles (EVs) for Didi's services.

DAIMLER

and have signed an agreement to extend their cooperation on in China by three years.

SIEMENS

agreed with to use the Chinese company's to roll out its digital

and China's (SPIC) signed an MoU confirming their intention to collaborate on

VOLKSWAGEN

said its Spanish brand SEAT would return to the Chinese market in 2020/21 as part of an agreement with China's (JAC) to develop electric vehicles.

Premium brand signed an MoU for strategic cooperation on

VW also signed an MoU for a strategic cooperation with FAW on mobility, connectivity and new energy vehicles, according to a document.

The document also showed that it signed a framework agreement for strategic cooperation with (Beijing) on for intelligent connected vehicles.

($1 = 0.8516 euros)

(Compiled by newsroom; Editing by Mark Potter and Adrian Croft)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 15:34 IST
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