Renault to sell 34% of its Korean division to Chinese Geely for 207 million dollars – 05/10/2022 at 06:58


RENAULT TO SELL 34% OF ITS KOREAN DIVISION TO CHINESE GEELY FOR 207 MILLION DOLLARS

(Reuters) – Renault announced on Tuesday that it would sell 34% of the capital of its Korean division to the Chinese group Geely Automobile Holdings for 207 million dollars, as part of a centralized strategy on the domestic market and electric cars .

The deal comes several months after the French automaker and Geely announced a partnership to develop a range of electric vehicles for South Korea and overseas markets, using Renault’s Busan plant as a production site.

(Report Savyata Mishra in Bangalore; French version Jean Terzian)



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