Renault, Brilliance sign strategic agreement with Liaoning government to boost LCV growth in China
Groupe Renault and Brilliance China Automotive Holdings Limited (Brilliance) signed on October 16 a strategic cooperation agreement with Chinese officials on behalf of Liaoning provincial government to further speed up development of LCVs (light commercial vehicles) in China. Renault also confirmed that it will bring three new electric LCV models in China over next two year.
“Ten months after the initial launch of our joint venture in China with Brillance, we have a local management team in place and a LCV development plan for further growth. Starting from early 2019, we will develop 7 LCV models in China, including 3 electric models. The agreement with Liaoning provincial government will lay a solid foundation for our future growth,” said Renault Chairman and CEO Carlos Ghosn.
At the end of 2017, Groupe Renault and Brilliance signed a contract for the formation of a joint venture to manufacture and sell LCVs under Jinbei, Renault and Huasong brands with the goal of selling 150,000 vehicles on an annual basis by 2022 and accelerating the growth of electrifying powertrains.
Headquartered in the Dadong District of Shenyang, Liaoning Province, the joint venture, Renault-Brilliance-Jinbei Automotive Co., Ltd, focuses on three major segments—MPVs, medium vans and heavy vans. The electric LCV models will be added to its product range soon.