Renault: joint venture for electric vehicle in China.
(CercleFinance.com) - The Renault-Nissan alliance and Dongfeng Motor Group today announced the creation of a joint venture for the development and marketing of electric vehicles in China, which will be known as eGT New Energy Automotive.
Production is scheduled to start in 2019.
Renault and Nissan will each own 25% of the joint entity, and Dongfeng Motors 50%. eGT will be based in the Chinese city of Shiyan, in the central Hubei Province, where Dongfeng has a factory in which future vehicles will be manufactured.
In 2016, 256,879 electric vehicles (EV) were sold in China, up 121% year-on-year, making the country the biggest market in the world for this type of product. From January to July 2017, Chinese production of EV increased 37.8% to 223,000 units.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Production is scheduled to start in 2019.
Renault and Nissan will each own 25% of the joint entity, and Dongfeng Motors 50%. eGT will be based in the Chinese city of Shiyan, in the central Hubei Province, where Dongfeng has a factory in which future vehicles will be manufactured.
In 2016, 256,879 electric vehicles (EV) were sold in China, up 121% year-on-year, making the country the biggest market in the world for this type of product. From January to July 2017, Chinese production of EV increased 37.8% to 223,000 units.
Copyright (c) 2017 CercleFinance.com. All rights reserved.