Hurriyet Daily News - BMW, the world’s largest maker of luxury vehicles, is considering adding two auto factories in emerging markets as it seeks to extend its lead over Volkswagen’s Audi. Turkey is among the candidates, according to the company’s chief executive officer.
BMW is evaluating sites for a plant in Brazil as well as another factory in Turkey, Russia, India or South Korea, CEO Norbert Reithofer said Thursday at the company’s annual shareholders’ meeting in Munich.
BMW is expanding in emerging markets as it looks to guard its independence and fend off Audi, which aims to overtake BMW as the luxury-car leader by 2015.
A number of auto makers including Ford, Toyota, Honda, Renault, Hyundai and Fiat have production operations in Turkey. The country’s growing automotive industry is set to manufacture 1.2 million vehicles in 2011.