April 18, 2024

Didcot Gateway

Building Cars, People First

Renault sells its stake in Chinese joint venture to partner Dongfeng Motor, Auto News, ET Auto

Renault and Dongfeng will also co-operate in the field of hi-tech 'intelligent connected' vehicles
Renault and Dongfeng will also co-operate in the discipline of hi-tech ‘intelligent connected’ vehicles

PARIS: French carmaker Renault reported on Tuesday it was providing out of its stake in a Chinese joint enterprise with Dongfeng Motor Corporation to Dongfeng, which Renault reported would assist it maximise synergies with Japanese partner Nissan.

Renault has been a person of numerous top world-wide automotive providers that has been hit really hard by the impact of the coronavirus, which has led to manufacturing unit closures and a slump in demand from customers.

Renault and Dongfeng reported they would keep on to cooperate with Nissan on new generation engines this sort of as the provide of parts to Dongfeng Renault Automotive Firm (DRAC) and diesel licences to Dongfeng Car Co Ltd.

Renault and Dongfeng will also co-operate in the discipline of hi-tech ‘intelligent connected’ vehicles, though Dongfeng Renault Automotive Firm (DRAC) will halt its Renault-branded things to do.

“We are opening a new chapter in China. We will focus on electrical vehicles and light-weight business vehicles, the two major drivers for foreseeable future clean up mobility and far more competently leverage our romantic relationship with Nissan,” reported Francois Provost, chairman of the China area for Renault.

Comply with and link with us on Twitter, Facebook, Linkedin, Youtube