Renault and Geely Solidify Brazilian Partnership

Renault Group and Geely Holding Group have formalized their strategic agreement to enhance cooperation in Brazil. Geely acquires a 26.4% stake in Renault do Brasil, strengthening their collaboration on producing and marketing zero and low-emission vehicles. Renault remains the majority shareholder and maintains its consolidation in the accounts. Utilizing the industrial complex in São José dos Pinhais, Geely accesses resources to boost its presence in Brazil's significant automotive market.

This partnership enables Renault do Brasil to manage the distribution of Geely's vehicle portfolio, offering growth opportunities in the Brazilian market. François Provost, CEO of Renault Group, emphasizes that this cooperation marks a key step in their international strategy. Similarly, Eric Li, Chairman of Geely Holding, highlights the mutual benefits of their global technology scale. This move is part of an ongoing global collaboration between the two firms.