Deeply rooted in China, seeking a way out of the market In the past, the Chinese market was a manufacturing/sales market for BMW. Today, we can see that BMW attaches great importance to the needs of Chinese users, so China's R&D department should also provide more value. Currently, BMW has three R&D centers in China, located in Beijing, Shanghai, and Shenyang. This constitutes the largest R&D network outside Germany, covering new energy vehicles, autonomous driving, smart interconnection, digital services, and design. In terms of electrification, BMW established the “High Voltage Battery R&D Center” in Shenyang, and cooperated with the Ningde era to provide batteries and BMW assembled battery packs for the PHEV models of the BMW 5 Series. With orders of 4 billion euros, 2.5 billion in China, 1.5 billion in Germany and international markets, the Ningde era will set up factories in Germany to supply batteries for BMW's next-generation technology flagship product, iNEXT.