Zhejiang Geely Holding Group and Renault Group have signed a cooperation agreement to launch all-new vehicle lineup for the South-Korean market. Renault-Samsung Motors (RSM) will manufacture Hybrid Electric and Internal Combustion Engine Vehicles in Busan for the local market and for export. Geely Group will become a strategic partner of RSM, including licensing architecture and powertrain technologies
Renault Group and Geely Holding Group, China’s largest privately-owned automotive group, have signed an agreement to launch a new collaboration dedicated to bringing fuel-efficient Hybrid Electric Vehicles (HEV) and Internal Combustion Engine (ICE) models to the South Korean market as well as for export sales.
The new vehicles will be produced at the Renault-Samsung facility in Busan, South Korea, with production forecast to begin in 2024.
This collaboration marks a further step in efforts by the two automobile groups in producing low-emission models, as well as increasing their penetration in the Asian HEV markets.
The partnership also forms part of Renault’s “Renaulution” program to upgrade the RSM brand and product portfolio by using industry leading technology, engineering and services as well as working with strong local partners.
The new products will utilize Geely Group’s compact modular architecture (CMA), developed by Geely’s R&D center in Sweden, as well as taking advantage of Geely Group’s advanced hybrid powertrain technologies. Renault and RSM will contribute their expertise in design and customer experience, while providing technologies to meet and exceed local market expectations.
While vehicles will be initially designed for the South Korean market, RSM will allow for their export in the future.