Renault-Nissan to set up new China JV with Dongfeng Motor for electric cars

A woman stands next to Dongfeng motor group's SUV vehicle SX6 during the Auto China 2016 show in Beijing, China April 26, 2016. Photo: Reuters

Nissan Motor Co and its alliance partner Renault SA said on Tuesday they are setting up a new joint venture with their partner Dongfeng Motor Group Co Ltd to design and build electric vehicles in China.

The move comes as global automakers tap into a boom for such cleaner “new energy” vehicles in the world’s biggest auto market and gear up to meet its stringent plug-in car quotas.

The new joint venture, called eGT New Energy Automotive Co, will be owned 25 percent each by Nissan and Renault and 50 percent by Dongfeng, according to a statement by Nissan and Renault.

Ford Motor Co announced earlier this it was exploring setting up a joint venture with Chinese car maker Anhui Zotye Automobile Co to build electric vehicles in China under a new brand.

Also Read:

China’s GSR close to sealing $1b deal for Nissan battery venture

China’s Dongfeng Motor rules out plans to acquire Fiat Chrysler

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.