Renault Group and Geely Holding Group announced a framework agreement expanding their strategic cooperation in the production and sales of zero- and low-emission vehicles through Renault do Brasil, further strengthening their strategic partnership.

Geely Holding would invest in Renault do Brasil to become a minority shareholder, enabling Geely Holding to gain access to localized production, sales and services resources. The venture remains subject to the entering of definitive agreements and prior approval of the relevant regulatory authorities.

Through this cooperation, the two advanced production facilities of Renault Group’s Ayrton Senna Complex in São José dos Pinhais, Paraná, would be made available for production of these all-new vehicles for both Geely Holding and Renault, in addition to the current Renault line-up.

On the sales side, Renault do Brasil would become a distributor of Geely Holding portfolio of zero- and low-emission vehicle products in Brazil. Geely Holding would thus benefit from Renault’s strengths and commercial expertise, accelerating the expansion of the group’s business in Brazil, the main automotive market in South America.

Through this new partnership, Renault Group and Geely Holding Group intend to be able to further empower the global expansion of their respective brands, and be key players in Brazil, a market representing 44% of the automotive sales in Latin America.