France’s Renault, China’s Geely look to set up JV to manufacture hybrid vehicles

REUTERS/Damir Sagolj

France’s Renault SA said on Monday that it is looking to revive business in China by forming a hybrid vehicle joint venture with Geely Holding Group, a year after it ended its previous operation in the world’s largest car market.

The two companies have signed a framework agreement to set up the joint venture, which would make and sell Renault-branded petrol-electric hybrid cars in China using Geely‘s technologies, supply chains, and manufacturing facilities while Renault would focus on sales and marketing.

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