Geely and Renault signed a cooperation agreement to produce the new CMA structure vehicle in the Korean market

Tramway News: Recently, we learned from the official that Geely Holding Group will become a strategic partner of Renault Samsung Automobile, authorizing it to use Geely's leading modular architecture and advanced hybrid powertrain technology; the two sides will launch an efficient and energy-saving fuel and intelligent hybrid model in the Korean market, which will be a newly developed new car, put into production around 2024, or sold in Samsung in South Korea, and plan to put the above products on overseas markets.

It is reported that the new cooperation agreement signed between Geely Holding Group and Renault Group is to launch high-efficiency and energy-saving fuel and intelligent hybrid models in the Korean market, and plans to put the above products in overseas markets. The new car will be manufactured by Renault Samsung Automobiles (hereinafter referred to as "Renault Samsung") at its plant in Busan, South Korea, and is expected to start production in 2024.

The cooperation between the two sides will seize the opportunity to give full play to Geely's leading edge in the field of intelligent hybrid technology, jointly explore the market, and help reduce global carbon emissions. The cooperation between the two parties reflects Geely Holding Group's strategy of opening up its vehicle architecture, and the new product will adopt the world-class CMA modular architecture developed by Geely Holding Group's Swedish R&D center, while leveraging Renault's advantages in forward-looking technology, styling design and user experience, and accelerating the landing of Renault Group's "Renaulution Plan" in the Korean market. Before cooperating with Geely, Renault has previously had joint ventures with a number of Chinese car companies, but due to the market development in China, it has not formed a scale, and after entering 2020, Renault has actively contracted its business in China.

In April 2020, Renault Group issued an announcement that it would transfer its shares in the Dongfeng Renault joint venture to Dongfeng Motor, and Dongfeng Renault would stop carrying out business related to the Renault brand, and then Dongfeng Motor issued an announcement confirming Renault's withdrawal from Dongfeng Renault. At this point, Renault ended its fuel passenger car business in the domestic market. According to the planning of Renault At that time, electric vehicles and light commercial vehicles will become the two pillar businesses of Renault in the domestic market in the future, and Renault Brilliance Jinbei, EasyJet and Jiangling New Energy will become the main business entities of Renault in China in the future.

Li Shufu, Chairman of Geely Holding Group, said: "Geely Holding Group is committed to taking scientific and technological innovation as the guide, opening up collaboration and sharing, participating in global market competition, and helping the sustainable development of the global automotive industry. This cooperation with Renault will give full play to the advantages of both sides, create new synergies, and create new value experiences for users. ”

Luca de Mayo, CEO of Renault Group, said: "Renault is pleased to have established an innovative partnership with Geely Holding Group. Renault Group and Geely Holdings will work together to continue Renault Samsung's 20-year success story and continue to contribute to the development of local industries. ”