Great Wall Motor Co Ltd.’s Hong Kong shares were gaining around 14% on Wednesday following media reports that German automaker BMW is looking to form a joint venture with the Chinese firm. The company’s Shanghai-listed shares were suspended from trading, pending an announcement, RTT News reported. The automakers are considering the possibility of opening an assembly plant in the eastern Chinese city of Changshu, a BMW executive said, while declining to say what type of vehicles would be put together there. A venture with Great Wall would be BMW’s second in China, the world’s largest auto market. It has a joint venture with local carmaker Brilliance China Automotive Holdings. Foreign carmakers have to operate in the market with local partners.
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