Renault finds Chinese partner for electric vehicle manufacturing

5/1/2019 9:42:02 AM

Groupe Renault wants to become an important player in China’s fast-growing new-energy vehicle market. For the development and manufacturing of electric cars, Renault has teamed up with China’s Jiangling Motors Co Group.

Shanghai Daily reports that the French car group will hold a significant stake in JMEV, a subsidiary of Jiangling Motors Co Group. The agreement is subject to approval by Chinese authorities in the first half of 2019. Renault also said more details will be released soon.

JMEV has produced and sold around 38,000 electric cars in 2017 in Nanchang, Jiangxi Province and expects this number to rise to 50,000. The Chinese government is strongly supports the development of new-energy vehicles. In 2018, over 1 million EV vehicles have been sold in China.

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