Groupe Renault CEO Carlos Ghosn and a Chinese government delegation have just signed an agreement to boost light utility vehicle sales in the Chinese market.
"Ten months after our initial launch of our joint venture in China with Brilliance, we have a local management team in place, LCV product plan to deliver further growth with seven LCVs for China including three electric LCV models, starting in early 2019. Our agreement with the local government in Liaoning province will strengthen our foundation for growth".
Carlos Ghosn, Renault Chairman and CEO
“The city of Shenyang and Liaoning province commit support to vehicle projects, new energies and R&D activities, industrial development, promotion of local suppliers and product development. Renault Brilliance Jinbei Automotive Company will play a crucial role in the sustainable industrial development of Shenyang, in the revitalization of the local economy, promoting environment-friendly technical solutions and products and supporting the enterprises in the Liaoning Province.”
Mr Tang Yijun, governor of Liaoning province
In December 2017, Groupe Renault and Brilliance China Automotive Holdings Limited (Brilliance) signed a contract for the formation of a joint venture to manufacture and sell light commercial vehicles (LCV) under the Jinbei, Renault and Huasong brands with the goal of achieving 150,000 sales annually by 2022 and an acceleration of electrifying powertrains.
The Chinese LCV market forecast is for 3 million units per year, growing and moving rapidly. Increasing urbanization rate as well as an e-commerce explosion make new and optimized logistics as well as inner-city transportation schemes necessary for both people and goods. Urban last-mile delivery is expected to grow by 125% till 2030. China is also the biggest, fastest growing EV-market in the world.