Renault and Geely will be joining forces with an MoU framework agreement that will see both manufacturers working together to develop electrified products for the Chinese and South Korean markets. This move forms part of Geely’s open source strategy for its full vehicle architectures.
This cooperation aims to allow Renault and Geely to share resources and technologies focused on providing hybridised vehicles to these two fast-growing Asian markets. In China, based on Geely’s existing technologies and mature industrial footprint, both partners will jointly introduce Renault-branded hybrid vehicles. Renault will contribute on branding strategy, channel and service development, defining appropriate customer journey.
In South Korea, where Renault Samsung Motors has over two decades of experience, the MoU allows Renault Group and Geely Holding to jointly explore localisation of vehicles based on Lynk & Co’s energy-efficient vehicle platforms for local markets.
Both partners will continue to explore in-depth further potential, under the spirit of open and innovative partnership mode.
Geely seems to be the go-to company when it comes to partnerships in the automotive sphere. Two years ago a report suggested that Tata motors on behalf of the Jaguar-Land Rover group decided to approach the Chinese manufacturer in a bid to save on development costs as the automotive industry invests more and more in electric vehicles. The report said talks with both potential partners were at “an early stage”, with Tata remaining open to approaching other companies. Since then, no further developments have been noted.
That same year, Geely purchased a 50 per cent stake in Daimler’s Smart brand which gave it the opportunity to transition into a fully EV offering. The firm also placed a substantial investment into Lotus two years prior to that but the most famous of its collaborations is with the Swedish brand, Volvo in 2013.
