Renault Launches EV Venture in China
Renault SA is investing €129 million ($144 million) in its 50:50 venture with Jiangling Motors Corp. to develop and build electric vehicles in China.
The venture was formed four years ago has government approval to produce EVs.
Renault has a minor presence in China and until this year had indicated no plans to make EVs there. The company first Chinese electric, the K-ZE minicar is going into production this year through a joint venture between Dongfeng Motor Co. and the Renault-Nissan alliance.
The company also plans to add a trio of hybrid models in China. Olivier Murguet, who heads Renault sales, describes China’s electrification push as a “territory of opportunities.”
Renault said in June it plans to invest more than €1 billion to expand production of EVs in France. The company expects to add eight all-electric models and 12 plug-in hybrid vehicles to its lineup by 2022.
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