Renault, which missed the golden decade of the Chinese market, seeks another breakthrough by joining hands with Geely to develop hybrid models

On August 9, Geely Automobile announced that Geely Holding has signed a memorandum of understanding with French automaker Renault Group. The two sides will establish a long-term strategic partnership, share resources and technology, and jointly develop Renault brand hybrid models. It is reported that the cooperation between the two sides focuses on the Chinese and Korean markets.

In the domestic market, the two parties will jointly develop Renault-branded hybrid models based on Geely's advanced platform technology. Renault will also use its advantages in brand strategy, content and channels, ecological service development and optimization of user journeys to create value for consumers.

In South Korea, the two parties will cooperate based on Lynk & Co's energy-saving platform CMA architecture to jointly develop models suitable for this market.

This is not Renault head This is the first time we have cooperated with domestic car companies.

In 2013, Dongfeng Motor and Renault established a joint venture brand, Dongfeng Renault. In 2017, Dongfeng Renault achieved sales of 72,000 vehicles, ranking first among joint venture automakers that year. But the good times did not last long. Since 2019, Dongfeng Renault's sales have begun to decline sharply. In the first quarter of 2020, sales were only 663 vehicles, a year-on-year plunge of 88.65%.

In April 2020, Dongfeng Renault announced its delisting and restructuring, and Renault transferred all of its 50% stake to Dongfeng Motor, which also marked Renault's withdrawal from the domestic fuel vehicle market.

After that, Renault announced that it would focus its business in China on light commercial vehicles and electric vehicles, but it has been in a tepid state. Therefore, this cooperation with Geely is undoubtedly an opportunity that Renault must seize in its pursuit of the Chinese market.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.