Renault-Nissan and Dongfeng collaborate to create EVs in China
Franco-Japanese motoring group, the Renault-Nissan Alliance, has joined forced with China’s Dongfeng Motor Group to co-develop and sell electric vehicles.
The new venture, named eGT New Energy Automotive, was created to support zero-emissions motility in China. It will focus on the key competencies of each partner, harnessing the potential of Renault-Nissan’s EV leadership and the extensive resources of Dongfeng.
eGT is set to design a new EV with intelligent interconnectivity in line with expectations of Chinese customers. It will be built on an A-segment SUV platform jointly developed by the Renault-Nissan Alliance, drawing on EV technology expertise and cost-effective car design. Dongfeng wil offer competitive manufacturing costs.
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Carlos Ghosn, Chairman and Chief Executive Officer of the Renault-Nissan Alliance, said: "The establishment of the new joint venture with Dongfeng confirms our common commitment to develop competitive electric vehicles for the Chinese market.
“We are confident to meet the expectations of the Chinese customers and to strengthen our global electric vehicle leadership position."
"This project is the result of a joint effort to develop electric vehicles for the Chinese market, by the 'Golden Triangle' formed by Dongfeng, Renault and Nissan, with an innovative business model," said Zhu Yanfeng, Chairman of Dongfeng.
"We expect to meet the transformation trend of the market in China; where cars are becoming light, electric, intelligent, interconnected and shared. This is also testimony of a deepened and strengthened strategic cooperation between the three parties."
Renault, Dongfeng, and Nissan Investment have signed an agreement to set up the new joint venture. Renault will hold 25% of eGT, Nissan will hold 25% and Dongfeng the remaining 50%.
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