Renault and Geely Expand Partnership for Electric Vehicles in Brazil

Renault and Geely are enhancing their partnership to produce electric and low-emission vehicles in Brazil. Geely’s investment in Renault’s Brazilian unit allows access to its production and sales network. The collaboration builds on their existing work with combustion engines and hinges on regulatory approval.

Renault SA and Geely Holding Group Co. have formalized a partnership to manufacture and sell electric and low-emission vehicles in Brazil. This collaboration will enable Geely to invest in Renault’s operations in Brazil, gaining access to the French automaker’s extensive production and sales infrastructure within the country. Both parties previously collaborated on combustion-engine and hybrid powertrain development through their joint venture, Horse.

Under this agreement, Renault’s Ayrton Senna manufacturing site in Parana will be utilized for the production of new vehicles that cater to both companies. The new collaboration represents a strategic move for Geely, enhancing its market position in South America’s largest economy through better access and operational capabilities. Legal and regulatory approvals are needed for the venture to proceed, and specific financial details of the investment were not disclosed.

The partnership between Renault and Geely marks significant advancements in the production and distribution of electric and low-emission vehicles in Brazil. By leveraging Renault’s established network and Geely’s investment, both companies are poised to strengthen their presence in South America. The initiative is contingent on securing necessary agreements and regulatory approvals.

Original Source: www.bnnbloomberg.ca