BMW set to become first overseas player to own majority in China car venture

The hubcap of a Bayerische Motoren Werke AG (BMW) X2 crossover vehicle is seen during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Tuesday, Jan. 16, 2018. After auto executives spent years trying to convince the world they can beat Silicon Valley to electric cars and autonomous driving, they are finally getting a chance to crow once again about what they do best: trucks. Each of the hometown brands will pull the cover off of a new flatbed, while at least three of the luxury brands roll out new SUVs. Photographer: Andrew Harrer/Bloomberg Photo by Bloomberg

BMW AG stands to become the first foreign car manufacturer to own a majority in a Chinese joint venture, showing Beijing is following through on a pledge to increasingly open up the economy to global corporations.

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