Renault EV strategy now focuses on the Chinese electric vehicle market and in this regard, it has entered into a joint venture partnership with Jiangling Motors Corporation Group (JMCG) of China. The company is going to increase its share capital by around 1 billion Chinese RMB, or $144 million, to acquire its 50% stake in the new venture.
The Sr.VP of Renault China region, Francois Provost stressed upon the importance of the Chinese market and said that their partnership in electric vehicle business with JMCG will support their growth plan in China and their EV capabilities.
Provost said that their company is a pioneer and leader in the European EV market for last 10 years and is all geared up to capitalize on it's in electric vehicle’s R&D, production, sales, and services.
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