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Renault and Zhejiang Geely Holding Group aim to intensify their collaboration in Brazil, embarking on a joint venture to manufacture and market electric and low-emission vehicles. Under this arrangement, Geely will invest in Renault's Brazilian subsidiary, thereby gaining access to its extensive production facilities, sales channels, and service network in the country. Having previously collaborated on internal combustion engines and hybrid systems, this new agreement marks a significant step for Geely in its efforts to penetrate the South American market. The production of these new vehicles will take place at Renault's Ayrton Senna plant in Brazil.
Currently, the joint venture between the two companies is awaiting the finalization of agreements and regulatory clearance, with specific financial details remaining undisclosed.
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