German carmaker BMW AG said increasing its stake in its Chinese car-making joint venture will boost earnings by up to €8 billion ($9.1 billion), signaling to competitors that it is highly beneficial to take control of operations the world’s largest car market, reports Bloomberg.
The move will lead to a positive one-time effect of €7 billion to €8 billion for BMW’s main automotive segment.
Its venture there assembles BMW-branded models for sale locally and the all-electric iX3 sport utility vehicle for export to global markets.