Geely Holding Group and Renault Group have jointly announced a new framework agreement aimed at expanding their strategic cooperation in the production and sales of zero- and low-emission vehicles, through Renault do Brasil, further strengthening their broader strategic partnership.
Within the new cooperation, Geely Holding will invest in Renault do Brasil. In becoming a minority shareholder to the OEM’s Brazil arm, Geely would gain access to localized production, sales and services resources. This venture remains subject to the entering of definitive agreements and prior approval of the relevant regulatory authorities.
The cooperation would likewise allow Geely to utilize two production facilities based in Renault Group’s Ayrton Senna Complex in São José dos Pinhais, Paraná. Here, Geely would be able to produce all-new vehicles alongside Renault, though Renault confirmed that its current line-up will continue to be produced at these facilities.
Renault do Brasil itself will become a distributor of Geely’s portfolio of zero and low emission vehicles in Brazil. Geely will, in turn, benefit from Renault’s commercial experiences, accelerating the expansion of its business in the country.
