Groupe Renault will take a significant stake of JMEV, a Chinese pure EV player, today owned by JMCG.
Groupe Renault and JMCG announce an agreement in EV on the fastgrowing Chinese market, which represents today 50% of the worldwide EV market. Groupe Renault will take a significant part of JMEV, a subsidiary of JMCG and one of the main EV player in China. Groupe Renault will thus complete its offering, increase its presence in the country and further support JMEV development.
Since 2015 JMCG has successfully established the company JMEV in Nanchang (Jiangxi province). JMEV has produced and sold 38,000 electric cars in 2017. Thanks to its dynamic teams and the strong growth of new energy vehicles in the country, JMEV expects to sell 50,000 electric cars in 2018
François Provost, Chairman of Asia Pacific Region, SVP, China Operations, Groupe Renault, said: “JMEV, the future joint venture with JMCG is fully in line with Groupe Renault’s strategy, aimed at establishing a solid position in the growing and highpotential market of EV in China. JMEV is an important local actor. This project is also very complementary with Groupe Renault other activities in China.”
Wan Jianrong, General manager of JMCG, stated: “Groupe Renault is a globally renowned automaker with leading electric vehicle business in Europe. JMEV’s cooperation with Groupe Renault therefore, will promote its future development that fits JMCG’s strategy.”
This agreement will be reviewed by the relevant authorities in China during first half 2019. JMCG and Groupe Renault expect to close the transaction in 2019. At closing, they intend to explain in more details their cooperation at an event in Nanchang.
Groupe Renault is leader in EV in Europe: 1 out of 4 EV on European roads is a Renault. It has a presence in China through 3 JVs.
Related news |
||
After its reveal in Geneva, Renault 5 E-Tech electric will be presented to the public at three exclusive events:The wt5 show, this... |
What better than a pop icon to take electric cars into the European mainstream?Renault 5 was a unique car renowned for its avant-g... |
Renault will unveil Renault 5 E-Tech electric for the world in Geneva On Monday 26 February at 9:30 am CET, before an internationa... |
You might be interested in |
||
Renault loves to be at the 89th Paris Motor #show to shine a spotlight on its concept cars, #show cars and new production models e... |
The #partnership between #Renaultgroup and #Castrol, part of the BP group, is extended until the end of 2027 to co-design and supp... |
After the first deliveries of Kwid E-TECH Electric in Brazil last August, #Renault confirms the launch of the car in the other Lat... |
© Copyright 2024