Renault has reached an agreement that will allow the Chinese group Geely to acquire 26.4% of the French automaker’s operation in Brazil. Geely Holding and Geely Auto will have access to Renault’s resources in the country and will be able to produce Geely Auto brand vehicles, side by side with Renault models, at the Ayrton Senna factory.
At the same time, Renault will use Geely’s platform for electric and hybrid powertrains to expand its range of low or zero emission vehicles in the Brazilian market. Renault do Brasil will be responsible for distributing Geely’s electric and hybrid portfolio in the country, opening up new opportunities in sales, financing and services.
The Geely EX5 electric SUV is already sold in Brazil at Renault dealerships. Renault and Geely maintain other global partnerships, such as joint investment in Renault Korea and the creation of technology developer Horse Powertrain.
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Financial terms of the deal were not disclosed.
