The logo of Renault carmaker is pictured at a dealership in Vertou, near Nantes, France. - Reuters
BEIJING, Jan 22 (Reuters): China's Geely Holding and France's Renault have formally agreed a deal to jointly design and produce electric hybrid and gasoline-fueled vehicles in South Korea for sale there, as well as for export, according to a joint statement by the two automotive groups.
The new vehicles, based on Geely’s compact vehicle architecture as well as its hybrid powertrain and other technologies, will be produced at the Renault-Samsung facility in Busan with production forecast to begin in 2024.
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