Renault, Geely Aim To Team Up On China, South Korea Sales As EVs Drive New Partnerships

In another sign of how the electrification is shaking up the global auto business, France’s Renault Group and China’s Geely Holding Group have signed a memorandum of understanding to collaborate on sales of hybrid vehicles.

The cooperation, which would accelerate a “Renaulution Plan,” is focused on China and South Korea as initial core markets, Geely said in a statement today.

In China, the world’s largest auto market where new energy vehicles are the fast-growing segment, the two will introduce Renault-branded hybrid vehicles. In South Korea, where Renault Samsung Motors has over two decades of experience, Geely Holding and Renault Group will explore localization of vehicles based on Geely’s Lynk & Co. energy efficient vehicle platforms…