New hybrid-focused deal

StarCarSifu

BEIJING: France’s Renault SA said yesterday it is looking to revive business in China by forming a hybrid vehicle joint venture with Geely Holding Group, a year after it ended its previous operation in the world’s largest car market.

The two companies have signed a framework agreement to set up the joint venture, which would make and sell Renault-branded petrol-electric hybrid cars in China using Geely’s technologies, supply chains and manufacturing facilities while Renault would focus on sales and marketing.