Home»Hot Wheels» French Renault enters into billion dollar Chinese alliance with Dongfeng

French Renault enters into billion dollar Chinese alliance with Dongfeng

Dailybhaskar.com | Last Modified - Dec 17, 2013, 06:45 PM IST

JV is a 50:50 manufacturing plant alliance between two auto makers
  • French Renault enters into billion dollar Chinese alliance with Dongfeng
    French Renault enters into billion dollar Chinese alliance with Dongfeng
    Beijing: French automaker Renault is joining the outsourced bandwagon by signing off a deal worth US$1.28 billion (7.76 billion yuan) by procuring a joint venture (JV) plant in central Chinese province Hubei, the company confirmed on Monday.
    The deal signals a 50:50 Renault JV with Wuhan-based Dongfeng Motor Group Co. The plant’s initial production capacity is of 150,000 units annually, starting 2016. The potential may double in following future.
    With Chinese consumers’ purchasing power rising, the French auto giant expects the import of its cars in the market to exceed 30,000 this year. Although the figure may seem nothing in comparison to US and European auto majors, yet it seemed wise, seeing the rise in demand, for the automaker to install a manufacturing unit of its own.
    Renault is hopeful of local manufacturing providing the much needed boost in sales in the Chinese auto market. Alliance of Japanese Nissan, the car manufacturer had earlier said that it was considering manufacturing electric vehicles with Dongfeng in Wuhan.
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    Photo courtesy: Renault Scala
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Web Title: French Renault enters into billion dollar Chinese alliance with Dongfeng
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