Coronavirus Impact: Renault Pulls Out of China, Sells JV Stake to Dongfeng

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Image used for representational purpose. (Image: Reuters)

Image used for representational goal. (Image: Reuters)

Renault has been certainly one of many main international automotive corporations that has been hit onerous by the impression of the coronavirus, which has led to manufacturing unit closures and a stoop in demand.

  • Reuters Paris
  • Last Updated: April 15, 2020, 10:59 AM IST

French carmaker Renault mentioned on Tuesday it was promoting out of its stake in a Chinese three way partnership with Dongfeng Motor Corporation to Dongfeng, which Renault mentioned would assist it maximise synergies with Japanese accomplice Nissan.

Renault has been certainly one of many main international automotive corporations that has been hit onerous by the impression of the coronavirus, which has led to manufacturing unit closures and a stoop in demand.

Renault and Dongfeng mentioned they might proceed to cooperate with Nissan on new-generation engines similar to the availability of elements to Dongfeng Renault Automotive Company (DRAC) and diesel licences to Dongfeng Automobile Co Ltd.

Renault and Dongfeng may even co-operate within the subject of hi-tech ‘intelligent connected’ automobiles, whereas Dongfeng Renault Automotive Company (DRAC) will cease its Renault-branded actions.

“We are opening a new chapter in China. We will concentrate on electric vehicles and light commercial vehicles, the two main drivers for future clean mobility and more efficiently leverage our relationship with Nissan,” mentioned Francois Provost, chairman of the China area for Renault.

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