BMW Will Build Two New Factories In Emerging Countries

BMW AG, the largest producer of luxury cars in the world, from Brazil to assess an area to build a factory here, but is considering another factory could be built in Russia, India, Korea and Turkey.

Norbert Reithofer, CEO of BMW AG, discussed the company plans to expand with two new plants at the annual shareholders meeting, held Thursday in Munich.

BMW no longer uses the term BRICs - Brazil, Russia, India, China - emerging markets, with a more current acronym - BRIKT, which replaces the C from China to Korea and added K tuci, says Automotive News Europe.

German manufacturer plans to pay record bonuses for 2010. BMW employees, according to the collective labor agreement, will receive an average of 5840 euros, equivalent to 1.6 times the average monthly salary.

The company reiterated plans to increase profits this year by selling more than 1.5 million vehicles, up from 1.46 million cars BMW, MINI and Rolls-Royce sold last year.

The BMW Group's best year ever was 2007, when the company sold 1,500,578 units in the three brands.


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