Written by by Daniel Ren at scmp.com
“Except for markets that levy unreasonably high tariffs [on Chinese-made EVs], Spotlight is designing and building cars for customers all over the world,” Zhang said on the sidelines of an investment promotion event in Shanghai. “We have the vision of building cars that cater to demand from people worldwide.”
Spotlight was founded in 2019, with BMW and Great Wall, China’s largest sport-utility vehicle maker, each contributing equally towards a total investment of 5.1 billion yuan (US$704.7 million). The company owns a factory in Jiangsu province’s Zhangjiagang city that is capable of assembling 160,000 vehicles a year, and a research and development centre in Shanghai that employs about 300 engineers.
Concerns about overcapacity have prompted mainland-based EV makers to boost their overseas sales, said Qian Kang, a Zhejiang-based entrepreneur who owns car components businesses.
“Foreign carmakers’ Chinese ventures used to focus on just the mainland China market, because it is big enough to accommodate their production capabilities,” he said. However, “China’s strong EV supply chain and its design heft in the EV sector have inspired global marques to look beyond the local market”.
Zhang did not provide details about any new models Spotlight is developing in Shanghai, and said three models, including two battery-powered cars under the Mini brand, are expected to be produced at the Zhangjiagang plant soon.
BMW decided to relocate the production of electric Mini cars from the United Kingdom to its venture with Great Wall in 2022, as part of its efforts to help the brand raise its profile and attract young buyers. It said at that time that an electric Aceman would be one of the two Mini models to be assembled in Zhangjiagang.
China is the world’s largest EV market. Currently, six out of every 10 new EVs worldwide are sold on the mainland.