Wuhan: Detroit of the East gives green light to Renault

Newswire

By Norihiko Shirouzu and Samuel Shen BEIJING/SHANGHAI, Dec 16 (Reuters) - Renault SA clinched full access to China's auto market on Monday by sealing a joint venture agreement with state-owned Dongfeng Motor Group in Wuhan, a city fast shaping up as China's own Detroit. Nine years after the two companies first announced plans for the joint venture, they finally inked a $1.3 billion 50-50 partnership to introduce the French carmaker's own locally assembled ...

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