Renault and Geely co-operate in China and South Korea

Geely Holding Group and Renault Group have signed a memorandum of understanding (MOU) on joint co-operation in China and South Korean markets where they will share resources and accelerate the Renaulution Plan.

The partners will introduce Renault-branded hybrid vehicles to China, while in South Korea they will explore localisation of vehicles based on Lynk & Co energy efficient platforms.

Both partners will continue to explore further potential.

Renault and partner Nissan were in a joint venture with Chinese manufacturer Dongfeng Motor Group until Renault pulled out last year.

Earlier this year Geely launched Zeekr, a new electric mobility technology and solutions company in China to provide premium EVs globally.

Geely is involved in various joint projects, including with Daimler (Mercedes-Benz), Smart, Volvo, Polestar, LEVC, Lotus and Proton.

Renault aims to reach 90% EV production by 2030.