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Renault SA Plans Joint Venture in China with Dongfeng Motor Group Co-Reuters

Sunday, 25 Nov 2012 09:55pm EST 

Reuters reported that Renault SA is planning to launch a joint venture to build cars in China with Dongfeng Motor Group Co. The two firms plan to invest a combined CNY 6.5 billion (USD 1.0 billion) in a plant in the central province of Hubei with an initial capacity of 200,000 cars a year, according to China Business News. Mr. Chen Guozhang, Chief Executive of Renault Greater China, was quoted by the newspaper as saying the planned joint venture would operate a plant formerly used by Renault when it had a local partner in the mid-1990s. A Dongfeng Motor Group Co spokesman said he had no information on the joint venture, while a Renault SA spokeswoman in China declined to comment. 

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