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Renault Group and Geely Holding Group have signed a strategic cooperation agreement to expand their presence in Brazil’s zero and low-emission vehicle market. This collaboration enables Geely Holding to invest in Renault do Brasil, becoming a minority shareholder while gaining access to Renault’s Ayrton Senna Industrial Complex in Paraná for localized production. Additionally, Renault do Brasil will distribute Geely’s vehicle portfolio through its established sales network.
Key Highlights:
- Geely Holding to join Renault do Brasil as a new partner.
- Production at Renault’s Ayrton Senna Industrial Complex will support both brands’ zero and low-emission vehicles.
- Renault do Brasil to distribute Geely’s portfolio through its sales and service network.
- Strategic move to expand Renault and Geely’s market presence in Brazil, which accounts for 44% of Latin America’s automotive sales.
- Pending regulatory approval before finalization.
This agreement builds upon the existing Renault-Geely partnership, which includes a joint venture in Korea and their Horse powertrain technology collaboration. Luca de Meo, CEO of Renault Group, emphasized the trust and effectiveness of their working relationship, stating, “It will allow us to consolidate our industrial footprint in the state of Paraná and further strengthen the Renault brand in this key market.”
Geely’s Chairman, Eric Li, highlighted their global approach, adding, “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.” Meanwhile, Daniel Li, CEO of Geely Holding Group, stressed the importance of international expansion, saying, “To achieve quantitative and qualitative growth, we must go out to the world, adhere to long-term development, and commit to being open and collaborative.”
This partnership represents a major milestone in Renault and Geely’s global strategy, allowing them to capitalize on Brazil’s fast-growing automotive market and strengthen their foothold in Latin America.
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