Renault-Nissan Alliance and Dongfeng Motor Group Co., Ltd. Forge Partnership to Co-Develop Electric Vehicles in China

PR69812

PARIS and BEIJING, August 29, 2017 /PRNewswire=KYODO JBN/ --

     - Newly formed joint venture eGT New Energy Automotive Co., Ltd. expected

to support zero-emission mobility, a key priority for both Dongfeng Motor Group

Co., Ltd. and the Renault-Nissan Alliance

     - Company will focus on the core competencies of each partner to deliver

competitive electric vehicles for the Chinese market

    The Renault-Nissan Alliance and Dongfeng Motor Group Co., Ltd. (Dongfeng)

announced a new joint venture to co-develop and sell electric vehicles (EV) in

China.

         (Logo: http://photos.prnewswire.com/prnh/20140130/666713-a )

    The new joint venture, eGT New Energy Automotive Co., Ltd. (eGT), will

focus on the core competencies of each partner and will harness the full

potential of the Renault-Nissan Alliance electric vehicle leadership, as well

as the resources of Dongfeng in the new energy industry, to meet the

expectations of the Chinese market.

    eGT will design a new EV with intelligent interconnectivity, that will be

in line with the expectations of Chinese customers. It will be built on an

A-segment SUV platform jointly developed by the Alliance. It will draw on the

global leadership on EV technologies and cost-effective car design experience

from the Alliance, and the competitive manufacturing costs from Dongfeng.

    "The establishment of the new joint venture with Dongfeng confirms our

common commitment to develop competitive electric vehicles for the Chinese

market," said Carlos Ghosn, chairman and chief executive officer of the

Renault-Nissan Alliance. "We are confident to meet the expectations of the

Chinese customers and to strengthen our global electric vehicle leadership

position."

    "This project is the result of a joint effort to develop electric vehicles

for the Chinese market, by the 'Golden Triangle' formed by Dongfeng, Renault

and Nissan, with an innovative business model," said Zhu Yanfeng, Chairman of

Dongfeng. "We expect to meet the transformation trend of the market in China;

where cars are becoming light, electric, intelligent, interconnected and

shared. This is also testimony of a deepened and strengthened strategic

cooperation between the three parties."

    Renault, Dongfeng and Nissan (China) Investment Co., Ltd. (Nissan) have

signed an agreement to set up the new joint venture. Renault will hold 25

percent of eGT, Nissan will hold 25 percent and Dongfeng the remaining 50

percent.

    http://www.media.blog.alliance-renault-nissan.com/news/6742

SOURCE: Renault-Nissan Alliance