BMW will establish its fifth R&D center in Incheon (image: BMW)
INCHEON, Oct. 14 (Korea Bizwire) –BMW AG, a world leading automotive brand, will establish its fifth global R&D center in Incheon, South Korea, as it reinforce its investment in the Asia-Pacific region, a lucrative market where the German brand witnesses growing sales.
The BMW Group, which already announced its plan to build the ultimate test drive center in Incheon, will invest 20 billion won (about US$18.7 million) for supporting automotive research areas by 2020 in the city of the Asian Games recently closed. BMW Korea celebrated the opening of its first Driving Center on Yeongjong Island in Incheon — the first in Asia, in July and it reportedly invested some US$75.5 million for that matter.
And BMW plans to tap South Korea’s technology prowess with its R&D center establishment. Incheon signed a memorandum of understanding (MOU) with the automobile manufacturer, on October 12 to this end and the R&D will focus on developing advanced automotive-related technologies including navigation solutions, cutting-edge driving support systems, and a reliable infrastructure for electronic vehicles.
BMW will establish its fifth R&D center in Incheon (image: BMW)
“The R&D center will play a critical role in developing cutting-edge technologies in the automobile industry. And the center will make a greater contribution to our local economy by creating new jobs,” said Incheon Mayor Yoo, Jeong-bok. “Likewise, we will keep up our utmost efforts to attract the world-class companies in the high-tech field,” he added.
BMW’s R&D center will be located at the driving center which has a 2.6-km closed circuit racetrack as well as training academy, sprawling on the 240,000 square meters site, equivalent to the size of 33 football fields.
BMW will establish its fifth R&D center in Incheon (image: BMW)
According to the BMW group, its global sales in the first three quarters of 2014 rose 9.1% on the same period last year with 1,319,492 vehicles delivered to customers and the upward trend also continues at BMW Motorrad, where a total of 9,991 motorcycles and maxi-scooters were delivered to customers in September.
The BMW Group achieved an increase in sales in all major sales regions in September; this ongoing positive trend is reflected in the figures for the first three quarters of the year.
Sales of BMW and MINI brand vehicles in Asia totaled 56,429 in September, an increase of 4.5% on the same month last year and Year-to-date sales in the Asian region are up 14.2% compared to the same period in 2013, with a total of 481,266 BMWs and MINIs delivered to customers.
BMW will establish its fifth R&D center in Incheon (image: BMW)
By M.H Lee (mhlee@koreabizwire.com)
