Taking stock of the 2021 | Renault-style resignation and welcome the new: Renault Brilliance liquidation has made substantial progress Geely's signing is imminent

On December 30, Brilliance Renault Jinbei applied for bankruptcy liquidation formal information disclosure, handled by the Intermediate People's Court of Shenyang City, Liaoning Province, case number (2021) Liao01 Breaking Shen No. 24. This means that the Long-insolvent Renault Brilliance project has finally made substantial progress, and both shareholders and employees will gradually clarify the results and start a new journey.

Renault Brilliance project was a joint venture with Jinbei as the core product to anchor the light commercial vehicle market. However, in recent years, this segment has been hit hard by raw material prices, industrial transformation and upgrading, and the impact of the epidemic, and Renault Brilliance's operation has long been deadlocked. Due to the reasons of being responsible for employees and stabilizing the overall situation, the shareholders have been discussing solutions, but the decline in operation has become an indisputable fact, and it is the biggest harm to many parties that have been hanging in the balance.

With the bankruptcy liquidation officially disclosed, this means that the two shareholders have reached a preliminary agreement on follow-up matters, and the company's assets and future placement of employees will be gradually resolved. "The shareholders finally reached a preliminary agreement, and they can put down their burdens in order to move forward lightly." An insider told Beijing Youth Daily.

For Renault China, 2020 to 2021 is a two-year farewell to the past, after the end of Dongfeng Renault, and then liquidate the Renault Brilliance project, which is a summary of the past fuel vehicle era in the Chinese market, and also a new beginning for the future with new energy as the core product. In fact, new energy products such as EasyJet and Jiangling Renault Models produced based on Renault technology are now gaining a firm foothold in the new energy market.

Since the signing of the memorandum of understanding with Geely in August, the cooperation between Renault and Geely has gradually landed, and the two sides will jointly carry out in-depth cooperation between China and South Korea in line with the principle of "going out and bringing in".

The end is for a better start. I believe that for any global automotive group, the Chinese auto market is an impossible market to miss, and Renault knows this well.

Text/Wen Chong

Editor/Chen Zhengzhong