Great Wall is one of few Chinese carmakers without an global carmaking partner. Spokespeople from BMW and Great Wall declined to comment on the matter, with the latter saying that the company will issue a statement later.
BMW is now considering another joint venture in China so that it can increase its production volumes and strengthen its electric vehicle presence in the market.
Association with Great Wall would see increase in both BMW's production volume and its EV share in one of the largest automobile industry in the world. "It is only possible to accelerate growth of Mini in China with a local partner".
"China has made it clear that basically it will not approve of new gasoline-car partnerships".
BMW's China sales grew 11.3 percent a year ago.
The carmakers have been discussing plans to launch electric and conventional Mini models for 18 months, Great Wall said in a stock exchange filing that described the talks as preliminary.
Subsequently, Hyundai was also linked as a buyer to Jeep brand. The company already has an alliance with Brilliance Auto to produce its range of cars, including China-only models.
The German automaker has announced sales of electrified vehicles through the first three quarters of 2017 have already exceeded all of past year.
"I don't know how far along we have gone nailing this deal", or whether the two companies have official central government approval for the venture, the BMW executive said.
Brokerage Jefferies said in a note that it was "understandable that BMW needs a new partner to defend its market share in a more competitive market", and expected that the move would hit current partner Brilliance.