Renault Group, a global company with French roots and 120 years of history in the automotive industry, and Geely Holding Group, China’s largest privately-owned automotive group, jointly announced an MoU framework agreement to create an innovative cooperation.
The cooperation, focused on China and South Korea as initial key core markets, will allow Renault Group and Geely Holding to share resources and technologies. The focus will be on hybrid vehicles in the fast-growing Asian markets.
Following the adoption by Geely Holding’s opensource strategy for its full vehicle architectures, Geely Holding will partner with Renault Group in the Chinese and Korean markets.
In China, based on Geely Holding’s existing technologies and mature industrial footprint, both partners will jointly introduce Renault- branded hybrid vehicles. Renault will contribute on branding strategy, channel and service development, defining appropriate customer journey.
In South Korea, where Renault Samsung Motors has over two decades of experience, the MoU allows Renault Group and Geely Holding to jointly explore localization of vehicles based on Lynk & Co’s energy-efficient vehicle platforms for local markets.
Both partners will continue to seek more in-depth potential partnership under the spirit of open and innovative partnership mode.