The Renault Group has signed a memorandum of understanding with the Geely Group to work together in the markets of China and South Korea. The collaboration between the two companies will consent; to Groupe Renault and Geely to share resources and technologies . The center of gravity of the agreement concerns hybrid vehicles to be brought to the debut in the fast growing Asian markets. In China, both partners will jointly introduce Renault-branded hybrid vehicles, using Geely's technologies, supply chains and manufacturing facilities. The French car manufacturer, on the other hand, will concentrate; on sales and marketing.
In South Korea, the two partners will work to introduce hybrid vehicles under the brand of LYNK & amp; Co . In this market, it should be remembered, the Renault Group has a great deal of experience through its subsidiary Renault Samsung Motors. The partnership could also be expanded in the future to cover additional markets. Furthermore, it appears that Geely and Renault are also looking to develop fully electric cars.
The news of this agreement is; certainly very interesting. The Renault Group, through a partner of & quot; peso & quot; like Geely, he will be able to significantly increase its presence in China. For the moment there are no further details other than the general agreement between the two companies. For example, nothing is known about the models that will be launched on the Chinese market. From this point of view, all that remains is to wait for further information to understand more.
The Renault Group, however, is proving particularly active with a very ambitious recovery plan. A strategy that relies heavily on electrification of the range and on new strategic investments such as the creation of a battery factory in France.
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