ROME (ITALPRESS) – Renault Group and Geely Holding Group have announced a framework agreement extending their strategic collaboration to the production and marketing, through Renault do Brasil, of zero- and low-emission vehicles, thus consolidating their strategic partnership. Geely Holding would invest in Renault do Brasil by becoming its minority shareholder, thus giving Geely Holding access to its local manufacturing, sales and service resources. The project is subject to the signing of definitive agreements and the prior approval of relevant regulatory authorities. As part of this collaboration, the two state-of-the-art production facilities at Renault Group’s Ayrton Senna complex in Parana, Sào Josè dos Pinhais, would be made available to produce these new vehicles for Geely Holding and Renault, complementing the current Renault range. From a business perspective, Renault do Brasil would become distributor of Geely Holding’s portfolio of zero- and low-emission vehicles in Brazil. Geely Holding would thus be able to rely on Renault’s strengths and commercial expertise, accelerating the development of the Group’s activities in Brazil, the main automotive market in South America. “The Renault Group and Geely have already come a long way together: we successfully launched a joint venture in Korea and, with Horse, created a world leader in engine and transmission technologies. Together, we have established a working relationship based on efficiency and trust. These are valuable resources that today we hope to put to good use with this new operation in Brazil, which will enable us to strengthen our industrial footprint in the state of Parana and consolidate the Renault Brand’s position in this key market,” said Luca de Meo, Renault Group CEO. “In this era of transformation in the global automotive industry, it makes sense to ally with friends and partners. To achieve growth that is both quantitative and qualitative, we cannot be content to stay in our comfort zone. We must open up to the world, aim for long-term development, and commit to being open and collaborative,” commented Daniel Li, Ceo of Geely Holding Group.With this new partnership, the Renault Group and Geely Holding Group would be able to further consolidate the worldwide expansion of their respective brands and become major players in Brazil, a market that accounts for 44 percent of vehicle sales in Latin America.(ITALPRESS).-Photo: Renault press office-
