Renault Forms China Electric Vehicle Venture With JMCG

www.oann.com | 6/12/2019 | Staff
dorkyrocker (Posted by) Level 3
BEIJING (Reuters) – France’s Renault SA said on Wednesday it will invest $145 million in a unit of China’s Jiangling Motors Corporation Group (JMCG) that will allow it to expand its electric vehicle manufacturing footprint in the world’s largest auto market.

The French car maker will take a 50% stake in JMEV, an electric car maker launched by JMCG in 2015, and establish it as a joint venture between the two companies, Renault said in a statement.

Partnership - Vehicle - Business - JMCG - Growth

“This partnership in electric vehicle business with JMCG will support our growth plan in China and our EV capabilities,” said Francois Provost,China region chairman for Renault. “We will capitalize on our experience in EV...
(Excerpt) Read more at: www.oann.com
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