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Representatives attend the groundbreaking ceremony for the new BMW Brilliance Tiexi plant in Shenyang, Liaoning province, Oct 11. 

The groundbreaking ceremony for the new BMW Brilliance Automotive (BBA) Tiexi plant was held in Shenyang, capital of Northeast China's Liaoning province, on Oct 11.

The day also marked the 15th anniversary of BBA, the joint venture between German carmaker BMW Group and its Chinese partner Brilliance Auto Group. The two firms used the occasion to announce that they would extend the contract term of their joint venture, with the new contract valid until 2040.

In addition, BMW pledged to invest 23 billion yuan ($3.34 billion) in existing and new facilities in Shenyang.

It is expected that in the following three to five years, the annual production capacity of vehicles at plants of BMW Brilliance will increase from 520,000 units to 650,000 units, providing 5,000 new jobs.

The joint venture was established in 2003, with plants in Tiexi and Dadong districts in Shenyang.

Harald Krueger, chairman of the board of management for BMW, said that the extended investment in Shenyang will focus on R&D and production of electric automobiles, making a significant contribution to the sustainable development of China's economy.

Harald Krueger, chairman of the board of management for BMW, addresses the groundbreaking ceremony in Shenyang, Liaoning province, Oct 11.