Renault Expands Chinese JV Production Plans
The JV has “a local management team in place and (light-commercial-vehicle) product plans to deliver further growth with seven LCVs for China, including three electric LCV models, starting in early 2019,” Renault Chairman and CEO Carlos Ghosn says.
Renault signs agreements with Chinese officials increasing its joint light-commercial-vehicle production plans with local automaker Brilliance China Automotive Holdings.
The French automaker also confirms plans for three new electric LCVs for China within two years. A delegation from the Chinese government and representatives from Liaoning province met with Brilliance executives and Renault Chairman and CEO Carlos Ghosn for the signing of a strategic cooperation agreement.
The JV has “a local management team in place and LCV product plans to deliver further growth with seven LCVs for China, including three electric LCV models, starting in early 2019,” Ghosn says.
Renault and Brilliance in early 2018 signed a contract for the formation of a JV to manufacture and sell LCVs under the Jinbei, Renault and Huasong brands with the goal of achieving 150,000 sales annually by 2022. Jinbei brand sales alone hit 124,900 in September.
Renault-Brilliance-Jinbei Automotive Co. builds vehicles in the Dadong District of Shenyang and is producing multipurpose vehicles, medium vans and heavy vans and soon will add electric LCV models to its range. Liaoning Province is one of China’s new automobile industrial hubs with more than 120 auto and auto-parts manufacturers and is Northeast China’s largest provincial economy.
Renault says the Chinese LCV market is forecast to reach 3 million units per year, with urban last-mile delivery expected to grow by 125% until 2030.
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