Renault, Geely likely to form joint venture for producing hybrid vehicles

French automaker Renault and China's Geely Holding are likely to soon announce a joint venture to develop the latter's hybrid vehicles in South Korea, Reuters reported, citing sources. Both the parties might also look at the possibility of exporting duty-free cars to the US.

File photo of logos of Renault (L) and Geely (R)
File photo of logos of Renault (L) and Geely (R)

The joint venture, which is in the works since early this year, also involves joint operations in China. Renault, which exited China last year, will find its way back into the world's largest auto market. The partnership could help Renault shore up its struggling business in South Korea and broaden its presence in Asia.

Also Read : Renault India launches workshop-on-wheels, aims stronger presence in the rural market

Both Renault and Geely are expected to work on a new lineup of green cars that will use Geely's manufacturing facilities to be made and the carmaker's Compact Modular Architecture (CMA) - a midsize vehicle underbody structure shared by Geely and Volvo. Geely will also manage supply chains while Renault will focus on vehicle design, sales and marketing for the new brand in China, the report stated.

Trending Bikes

Find more Bikes

For Geely, the partnership will mean an access to Renault's assembly plant in South Korea as well as a foothold in the country where the latter has been making and selling cars for over two decades via its local brand with a Samsung Group unit. Geely plans to produce the Lynk & Co 01 sport-utility vehicle at Renault's plant in the southeastern South Korea, the report revealed.

Also Read : Renault wins union support to cut 1,700 jobs in France for EV shift

With this, Geely aims to localise the production of certain Lynk hybrid vehicles in South Korea and would also line up local supply of parts. The Lynk & Co 01 model currently comes in three powertrain options - petrol, petrol-hybrid and plug-in electric hybrid. Further, Geely could take an advantage of South Korea's free-trade agreement with the US and export its Lynk & Co vehicles to the its auto market.

First Published Date: 21 Dec 2021, 14:18 PM IST
Shopping Bag Shop Now
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
64% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 699 Rs. 1,939
73% OFF
IDELLA Car Duster, Extendable Long Handle Microfiber Car Duster Exterior Scratch Free Car Cleaning Tool, Car Dust Brush for Truck, Pickup, SUV, RV, Motorcycle, Vehicles Cleaning,(Multicolor)
Rs. 239 Rs. 899
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.