Renault has signed an agreement with Geely Holding for Geely to invest in Renault do Brasil, becoming a minority shareholder. The partnership will utilize Renault’s production facilities in Paraná to manufacture vehicles for both companies and position Renault as the distributor of Geely’s low-emission vehicles in Brazil.
Renault has formally entered into an agreement with Geely Holding in Brazil, where Geely will take a minority stake in Renault do Brasil. This investment will facilitate collaboration in manufacturing vehicles at Renault’s advanced production facilities located in the Ayrton Senna complex in São José dos Pinhais, Paraná. The collaboration aims to enhance the current vehicle offerings by producing models for both Geely and Renault.
In addition to manufacturing, Renault do Brasil will take on the role of distributor for Geely Holding’s range of zero- and low-emission vehicles within the Brazilian market. This strategic move is anticipated to strengthen Renault’s presence and brand recognition in this vital segment.
The agreement between Renault and Geely Holding in Brazil underscores a significant partnership aimed at strengthening industrial operations and expanding vehicle offerings. By facilitating shared resources for production and distribution, the two companies aim to enhance their market position while promoting sustainable vehicle options. This collaboration marks a step forward in Renault’s strategy to bolster its operations in key markets like Brazil.
Original Source: www.marketscreener.com
