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Renault Partners with Third Chinese EV Maker
Renault SA has agreed to buy a “significant” stake in Jiangling Motors Co.’s JMEV electric vehicle unit.
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Renault SA has agreed to buy a “significant” stake in Jiangling Motors Co.’s JMEV electric vehicle unit.
The companies say they expect to close the deal sometime next year. More details will be announced later.
Based in Nanchang, JMEV was launched in 2015. The brand says it is on track to sell 50,000 EVs this year, up from 38,000 units last year.
Renault, the leading EV-maker in Europe, is working with two other Chinese carmakers on the technology. In July, the French company formed a joint venture with Brilliance China Automotive Holdings Ltd. that plans to launch seven electric light commercial vehicles—including three all-electric models—over the next two years in China.
Last year, Renault and alliance partner Nissan Motor Co. partnered with Dongfeng Motor Group. The companies aim to launch an all-electric SUV/crossover in China next year.
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