Geely And Renault signed contract to take up South Korea and other Asian car markets

The Chinese automotive giant and the parent company of Volvo/Polestar, Geely, has signed an agreement with the French Renault Group intending to bring fuel-efficient hybrid electric cars to South Korea and export sales into other Asian markets.

The collaboration represents a continuance of efforts made by both companies in assembling low-emission and electrified vehicles and increasing their demand in the Asian HEV and PHEV markets. Besides, the partnership is also practically the next step of Renault's "Renaulution" program devised to glorify the French carmaker's brand and enhance the product portfolio.

The new Renault vehicles will be assembled on the Volvo-developed "compact modular architecture", or CMA platform, and operate Geely/Volvo-developed powertrains under a hood corresponding to the Renault Megane-e concept vehicle.

To be precise, the underpinned CMA platform and drivetrain combination is the same as the one used in the award-winning Polestar 2 electric sports sedan. This signifies the new additions for sure are worth the belief.  

Renault execs appear rather psyched about their new Asian partnership, and in the economies of scale, it pledges to obtain the same. Luca de Meo, CEO of Renault Group, said, "We are happy to initiate such an innovative partnership with Geely Group, which has an impressive track record in Automotive Industry". 

"Through this project, Geely Holding and Renault Group pave the way to pursue 20 years of successful RSM journey and contribution to the South Korean industry", he further added. 

Geely has created no mystery of its intent to construct platforms on which everyone else assembles their cars. The company has already developed and found customers to promote that platform. Now that the Renault group has joined the team, it's starting to seem like Geely's plan might be a good one.

It is said that the new vehicles will be assembled at the Renault-Samsung plant in Busan, South Korea, with production forecast to begin in early 2024.

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