Renault and Geely Partnership for Produce Zero-Emission Vehicles in Brazil

Renault and Geely have agreed to produce and sell zero-emission vehicles in Brazil, with Geely investing in Renault do Brasil. The partnership will strengthen both brands in the key Latin American market.

Hangzhou China/ Boulogne-Billancourt France- Renault Group and Zhejiang Geely Holding Group Co., Ltd have announced a framework agreement to expand their strategic cooperation in the production and sales of zero- and low-emission vehicles in Brazil through Renault do Brasil. This partnership will see Geely Holding invest in Renault do Brasil, becoming a minority shareholder, and gaining access to localized production, sales, and service resources. The agreement is subject to the completion of definitive contracts and regulatory approvals.

As part of the collaboration, Renault’s Ayrton Senna Complex in São José dos Pinhais, Paraná, will be utilized to produce new zero- and low-emission vehicles for both Renault and Geely. Additionally, Renault do Brasil will serve as a distributor for Geely’s portfolio of environmentally-friendly vehicles in Brazil, allowing Geely to leverage Renault’s commercial expertise and strengthen its presence in the key South American market.

Mr. Luca de Meo, CEO Renault Group, said, “Renault Group and Geely have already gone a pretty long way together: we successfully launched a joint venture in Korea and, with Horse, we have designed a world leader in powertrain technology. Together, we have built trust and an effective working relationship. These are great assets that we want to leverage today with this new cooperation in Brazil. It will allow us to consolidate our industrial footprint in the state of Paraná and to further strengthen the position of the Renault brand on this key market.”

Mr. Eric Li, Chairman of Geely Holding Group, said, “Geely’s cooperation with Renault is part of its commitment to working with global partners in transforming and improving the industry in a sustainable direction. From South Korea to global powertrains, and now to Brazil, Geely’s relationship with Renault has moved forward. By working together, we mutually benefit from shared synergies and improved efficiencies to create greater value for our global users.”

Mr. Daniel Li, CEO of Geely Holding Group, said, “In this transformative era of the global automotive industry, it makes sense to traverse to path ahead with friends and partners. To achieve quantitative and qualitative growth, we cannot be satisfied just staying comfortable in one place, we must go out to the world, adhere to long-term development, and commit to being open and collaborative.”

Through this new partnership, Renault Group and Geely Holding Group would be able to further empower the global expansion of their respective brands, and be key players in Brazil, a market representing 44% of the automotive sales in Latin America.