Renault Vows “Massive” Investment in China

Renault SA, which sold only 34,000 vehicles in China last year, predicts its volume will soar when its venture with Dongfeng Motor Corp. launches in 2016. CEO Carlos Ghosn says the company plans "massive" investments in the country.

Dongfeng already has a venture with Renault rival PSA Peugeot Citroen that sold some 734,000 vehicles in 2014.

Renault is completing a factory in Wuhan that will be able to make 100,000 cars annually when it opens in 2016. The facility's first model is expected to be a small crossover vehicle. Renault has said the plant could eventually be expanded to 500,000 units.

Ghosn tell reporters that Renault intends to boost its market share in China to 6% by an unspecified date. The company said last autumn it is targeting sales of 800,000 vehicles per year, including imports.