Renault investing in electric vehicles?
"The deal is off After a few days of intense excitement, FCA and Renault will not be coming together thanks to ‘political conditions in France’"
Renault SA will contribute €128.5 million ($144 million) for a 50 percent stake in a venture with Jiangling Motors Corp (JMC) to create electric vehicles in China.
The entity was made in 2015 and as of now holds affirmation to fabricate battery-electric traveler vehicles, as per an announcement from the French carmaker on Wednesday. It intends to develop rapidly and become a conspicuous player in the Chinese market, it included.
“This partnership in electric vehicle business with JMC will support our growth plan in China and our EV capabilities,” Francois Provost, head of the China region at Renault, said in the statement.
Renault, which has had a limited presence in China, is pushing ahead with an electrification strategy that includes a new battery-powered car that will go on sale in that country along with a plan to make hybrid versions of three of its existing models.
Debashish S Neupane
