Recently, France's Renault Automobile confirmed that its joint venture with Chinese automaker Brilliance AutoMotive Group has run out of cash and is moving towards restructuring. It is reported that "in view of the inability of the (joint venture) to meet its current financial obligations, the board of directors of the company has decided to initiate restructuring proceedings,"
According to public information, Renault is discussing ending a commercial vehicle joint venture with Brilliance in order to clean up its troubled Chinese business. The cooperation between the two parties dates back to 2017, when Renault and Brilliance China Automotive Holdings Co., Ltd. established a joint venture in Shenyang, the capital of Liaoning Province, in particular to promote the development of electric commercial vehicles.
Renault Automobile Company is a French automobile manufacturer. In October 1898, Louis Renault founded the Renault plant in Billancourt, which was later reorganized into Renault AG to produce various vehicles. Brilliance Auto (full name "Brilliance AutoMotive Group Holdings Limited") is a local automobile brand in China.
According to wisdom bud data, as of the latest, Brilliance Automotive and its affiliates have nearly 2,000 patent applications in 126 countries/regions. From the perspective of patent trends, the company's patent applications are concentrated in 2014-2017. According to the company's innovation word cloud, the company's patents are mainly focused on auto parts, engines, mounting holes and other technical fields.
![Renault's latest development plan is to achieve 100% pure electrification in Europe by 2030[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)