Geely and Renault to build cars in South Korea

2022-01-24

China's Geely Holding and France's Renault have formally agreed a deal to jointly design and produce electric hybrid and gasoline-fueled vehicles in South Korea for sale there, as well as for export, according to a joint statement by the two automotive groups.

The new vehicles, based on Geely’s compact vehicle architecture as well as its hybrid powertrain and other technologies, will be produced at the Renault-Samsung facility in Busan with production forecast to begin in 2024. For Renault, the joint venture deal, in the works since last year, will allow its struggling South Korean unit to strengthen its product lineup and expand its market.

Renault has been making and selling cars in South Korea for over two decades via a local brand with a Samsung Group unit.

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