Just earlier this week a news report from China emerged claiming BMW was interested in joining forces with Chinese manufacturer Great Wall.
"It is only possible to accelerate growth of Mini in China with a local partner", BMW said.
The German vehicle maker said that it was in the midst of strategic development and expansion of its Mini brand, including diversification of partnerships and new cooperation models. Back then it didn't make a lot of sense because the German brand is already working with a different partner in China, Brilliance Automotive, as per the regulations of the Chinese government.
"Our business development with the joint venture BMW Brilliance Automotive will continue as planned, and we will carry on to invest and develop our joint venture." a spokesman for BMW said, declining to comment on any new joint venture. Spokespeople from BMW and Great Wall declined to comment on the matter, with the latter saying that the company will issue a statement later. Great Wall would fit the bill as it is one of the biggest auto brands in China today.
Great Wall, which in August expressed an interest in the Jeep brand of Italian-American automaker Fiat Chrysler Automobiles NV's, is one of China's largest vehicle makers.
Year-to-date sales of both brands, which are part of the BMW Group, were up 64.2 percent in over the same period last year, the company said Friday.
Last month it struck a deal to secure supplies of lithium, a mineral key for developing electric vehicles.