Renault’s China-built light commercial vehicle to be rolled out soon

Shanghai (Gasgoo)-On Sept. 25, Carlos Ghosn, Chairman and CEO of Groupe Renault visited Shenyang, Liaoning Province. During his visit, Ghosn also exchanged his idea with Qi Yumin, Secretary of the Party Committee and Chairman of Brilliance Auto on accelerating the progress of project development and deepening cooperation of joint venture.

The issue on Renault's China-built light commercial vehicles is undoubtedly Ghosn's major task to visit China this time. "Chinese LCV market has a large scale of 3 million vehicles per year. Taking advantage of Renault's management expertise and know-how on the products and technology, and Brilliance Auto's know-how and influence of the Chinese market, we aim to build a LCV joint venture which will play an important role in China." Carlos Ghosn said on an idea-exchange meeting.

"Brilliance Auto joins hands with Renault to build up an international, market-driven and modern joint venture with a modern enterprise system, establishing a strategic platform to meet future market needs, enabling Jinbei, Huasong and Renault to be improved altogether." said Qi Yumin.

In July, Brilliance Auto signed a binding framework cooperation agreement with Groupe Renault. It is also said that they are likely to sign the agreement officially in December this year. Their cooperation was indicated in the sentences on Brilliance Auto's half-year financial report, for example, CBA teams up with Renault to invest RMB 1.5 billion in next two years. Renault will hold 49% equity of the joint venture, so Brilliance Auto will hold its stake of 51%.