BMW-GWM JV to Produce Electric Mini a Long-Term Positive; GWM FVE Maintained at HKD 14.9 per Share
No-moat Great Wall Motors, or GWM, recently signed a letter of intent with BMW to shift part of its electric Mini production to China. The exact details of the joint venture, including total investment amount and new manufacturing plant locations, have not yet been finalized. While the earnings impact is hard to quantify at the moment, we view the new joint venture as a mid- to long-term positive for GWM. On an operational level, the electric Mini production will help GWM meet the latest new ene...
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