- Geely Holding and Renault Group have signed an MOU to accelerate the ‘Renaulution Plan’ in China and South Korea.
- In China, both partners will jointly introduce Renault-branded hybrid vehicles.
- In South Korea, Geely Holding and Renault Group will explore the localization of vehicles based on Lynk & Co energy efficient platforms.
- Geely Holding and Renault Group will enhance their competitive advantages in technology and industrial systems to create a leading mobility experience.
9th August 2021, Hangzhou China, and Paris France. Renault Group, a global company with French roots and 120 years of history in the automotive industry, and Geely Holding Group, China’s largest privately-owned automotive group, today jointly announced an MoU framework agreement to create innovative cooperation.
The cooperation focused on China and South Korea as initial key core markets will allow Renault Group and Geely Holding to share resources and technologies. The focus will be on hybrid vehicles in the fast-growing Asian markets.
Following the adoption by Geely Holding’s open source strategy for its full vehicle architectures, Geely Holding will partner with Renault Group in the Chinese and Korean markets.
In China, based on Geely Holding’s existing technologies and mature industrial footprint, both partners will jointly introduce Renault- branded hybrid vehicles. Renault will contribute to branding strategy, channel, and service development, defining appropriate customer journey.
In South Korea, where Renault Samsung Motors has over two decades of experience, the MoU allows Renault Group and Geely Holding to jointly explore the localization of vehicles based on Lynk & Co’s energy-efficient vehicle platforms for local markets.
Both partners will continue to seek more in-depth potential partnerships in the spirit of an open and innovative partnership model.