The Mini Electric Concept. — Picture courtesy of Mini
Some 160,000 cars a year are set to roll off the assembly line at the planned factory in the city of Zhangjiagang in Jiangsu province, which will eventually employ 3,000 people.Both partners are together investing €650 million in the project. The costly pivot to the cleaner, smarter cars of tomorrow is hitting automakers hard at a time when the global industry is battling headwinds from a darkening economic outlook.
A slowing economy, US-China trade tensions, and a Chinese crackdown on shady credit practices have all weighed on demand.
Source: Car News Wire (carnewswire.net)
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