BMW Group aims to increase the value of its sourcing from China by ten times over the next three years to 500 million euros ($748 million) in 2012, said Philip Christian Eller, senior VP for purchasing and supplier network in the group's driving dynamics and motorcycle division.

BMW Group is expected to source parts and materials worth 50 million euros ($74.8 million) from China in 2009, up from 35 million euros ($52.4 million) in 2008, Eller told Automotive News China last week at a conference in Shanghai.

The majority of the materials BMW Group is now buying from the Chinese market are casting parts such as alloy wheels and bearings, said Eller. He is also expecting to source glass from the market here.

To lift the sourcing value by ten times over such a short time frame is no easy task. But Eller said he is confident about achieving the target as contracts worth 300 million euros have already been signed for delivery in 2012.

When referring to sourcing in China, Eller said he means sourcing from domestic Chinese enterprises, not the China-based joint ventures of international companies.

Domestic Chinese parts suppliers are rapidly improving the quality of their products, he added.

"Our aim is real Chinese enterprises, and we'll help them grow and get them into our supply networks," he said.