Renault Group and Geely Holding Group have announced a framework agreement to expand their strategic partnership in Brazil, focusing on the production and sales of zero and low-emission vehicles through Renault do Brasil. As part of the agreement, Geely Holding will invest in Renault do Brasil, becoming a minority shareholder, and gaining access to local production, sales, and service resources. The deal is subject to final agreements and regulatory approvals.
Through this cooperation, the two advanced production facilities of Renault Group’s Ayrton Senna Complex in São José dos Pinhais, Paraná, would be made available for production of these all-new vehicles for both Geely Holding and Renault, in addition to the current Renault line-up.
On the sales side, Renault do Brasil would become a distributor of Geely Holding portfolio of zero and low emission vehicle products in Brazil. Geely Holding would thus benefit from Renault’s strengths and commercial expertise, accelerating the expansion of the group’s business in Brazil, the main automotive market in South America.
Luca de Meo, CEO of Renault Group, stated: “Renault and Geely have already achieved significant milestones together, including the successful launch of a joint venture in Korea and the creation of Horse, a global leader in powertrain technology. Our collaboration has built trust and an effective working relationship, assets we aim to leverage with this new partnership in Brazil. This will help us strengthen our industrial presence in Paraná and enhance the Renault brand’s position in this crucial market.”
Eric Li, Chairman of Geely Holding Group, commented: “Geely’s partnership with Renault reflects our commitment to working with global partners to transform and improve the industry sustainably. From South Korea to global powertrains, and now to Brazil, our relationship with Renault continues to grow. By working together, we can leverage synergies and improve efficiencies to create greater value for our global customers.”
Daniel Li, CEO of Geely Holding Group, added: “In this transformative period for the global automotive industry, it’s essential to move forward with trusted partners. To achieve both quantitative and qualitative growth, we must not remain static; we must expand globally, focusing on long-term development, openness, and collaboration.”
This new partnership will further drive the global expansion of both Renault and Geely, positioning them as key players in Brazil, a market representing 44% of automotive sales in Latin America.
