Groupe Renault sets its new Strategy for China

Groupe Renault sets its new Strategy for China

14.04.2020: • Groupe Renault will focus in China on light commercial vehicles (LCV) and electric vehicles (EV). • Groupe Renault will transfer its shares in Dongfeng Renault Automotive Company Ltd


• Groupe Renault will focus in China on light commercial vehicles (LCV) and electric vehicles (EV).

 

• Groupe Renault will transfer its shares in Dongfeng Renault Automotive Company Ltd (DRAC) to Dongfeng Motor Corporation. DRAC will stop its Renault brand-related activities.


• LCV business is operated through Renault Brilliance Jinbei Automotive Co., Ltd. (RBJAC), leveraging Jinbei legacy with Renault know-how.


• EV business will be developed through the two existing joint ventures: eGT New Energy Automotive Co., Ltd (eGT) and Jiangxi Jiangling Group Electric Vehicle Co. Ltd (JMEV).





Groupe Renault unveiled today its new strategy for the Chinese Market, building on two of its key pillars: Electric Vehicles (EV) and Light Commercial Vehicles (LCV).




Within this new strategy, Groupe Renault activities in China will be driven as follow:



About Chinese ICE Passenger Car Market



Regarding ICE passenger car, Groupe Renault has entered into a preliminary agreement with Dongfeng Motor Corporation under which Renault transfers its shares to Dongfeng. DRAC will stop its Renault brand-related activities.



Renault will continue to provide high quality aftersales service for its 300,000 customers through Renault dealers but also through Alliance synergies.


Further development for Renault brand passenger cars will be detailed later within future new mid-term-plan Renault.



Furthermore, Renault and Dongfeng will continue to cooperate with Nissan on new generation engines like components supply to DRAC and diesel license to Dongfeng Automobile Co., Ltd. Renault and Dongfeng will also engage in innovative cooperation in the field of intelligent connected vehicles.




About Chinese LCV Market



Increasing urbanization rate, e-commerce extension, inner-city transportation schemes and versatile customers usages are the key characteristics of a rapidly changing LCV market in China. It reached 3.3 million in 2019 and is forecasted to maintain a steady upwards path.



Renault Brilliance Jinbei Automotive Co., Ltd. (RBJAC), launched in December 2017, is Groupe Renault’s sword arm for its LCV business in China.



Groupe Renault is leading the LCV market in Europe in terms of sales volumes for light commercial vehicles, as well as sales of electric light commercial vehicles.



Jinbei is a well-established Brand with 1.5 million customers in China and close to 162,000 sales in 2019.
With Renault expertise and technologies, RBJAC is modernizing Jinbei models and extending the line-up with a total of 5 core models by 2023. The joint venture will also export in the future.





Confidential C


About Chinese EV Market



With 860,000 electric vehicles sold in China in 2019, China is by far the largest EV market in the world. EV sales are expected to reach 25% of the Chinese market by 2030.



Groupe Renault was a pioneer on EV and has sold close to 270,000 electric vehicles in the world since 2011. It gives a strong competitive advantage in China as shown by the successful launching of Renault City K-ZE, the first joint venture EV car competing in A segment with the best local automakers.


Groupe Renault expect to reinforce its partnership with Nissan and Dongfeng within eGT to make K-ZE a worldwide car. A derivative for Europe based on “Dacia Spring” concept will be sold from 2021.



JMEV is known as an agile and efficient EV player since its creation in 2015. With Renault support in terms of quality and technologies, JMEV will cover 45% of Chinese EV market in 2022 with 4 core models.*



This new China strategy will enhance Renault competitive advantages to sustain long-term presence in the Chinese market and maximize synergies with Nissan under the new Alliance concept of “leader-follower”.



“We are opening a new chapter in China. We will concentrate on electric vehicles and light commercial vehicles, the two main drivers for future clean mobility and more efficiently leverage our relationship with Nissan” said Francois Provost, Chairman of China region of Groupe Renault.





Rie Yamane-


Permanent-URL: http://www.automobilsport.com/groupe-renault-new-strategy-china---206020.html

14.04.2020 / MaP

More News

Toyota Motor Europe posts first quarter sales results amid COVID-19 crisis
10.04.2020
    TME reports 271,937 vehicles sold between January-March 2020, down -2.45%, as the market sharply declined    Continued strong demand for its hybrid electric vehicles which make up 52% of total sales and 64% in West Europe    Toyota’s European plants currently closed as the COVID-19 crisis impacts more >>
Global sales of the Toyota RAV4 reach 10 million units
10.04.2020
    Toyota’s ground-breaking SUV reaches 10 million sales landmark    Total achieved across 26 years and five model generations    RAV4 founded the market for compact, urban SUVs and has remained an international best-seller    Toyota prepares for another new cha more >>
Renault's Board of Directors communication
09.04.2020
 •    Annual General Meeting of Shareholders to take place on June 19, 2020 •    Cancellation of the dividend for the 2019 financial year•    25% reduction in compensation for the Chairman and interim CEO•    25% reduction in Directors' 2020 attendance fees more >>
Volkswagen and IG Metall successfully complete pay negotiations
09.04.2020
Volkswagen chief negotiator Arne Meiswinkel: agreement with a short term and practical solutions in the coronavirus crisis Volkswagen and IG Metall have brought their negotiations for Volkswagen AG employees covered by the company collective agreement to a successful conclusion. As a result of the coronavirus crisis, the negotiations took place und more >>
Mercedes-Benz delivers approximately 477,400 cars worldwide in Q1
08.04.2020
    Britta Seeger: “Together with our global retail partners, we have further strengthened our online activities.”    Mercedes-Benz Vans sold about 64,600 commercial vans in the first quarter of 2020.    Significant impact of worldwide COVID-19 pandemic and temporary closures of retail businesse more >>
UK new car registrations fall -44,4% in March as Coronavirus crisis hits market
06.04.2020
    UK new car registrations fall -44.4% in March as coronavirus crisis causes showrooms to close.    Steeper fall than during last financial crisis and worst March since late nineties with some 203,370 fewer cars sold in the month.1    Early SMMT analysis downgrades 2020 outlook to 1.73 million units, -23% more >>
411,809 BMW vehicles delivered in first quarter 2020
06.04.2020
A total of 411,809 (-20.1%) BMW vehicles were delivered to customers in the first three months of the year. The MINI brand sold 64,449 (-23.4%) units during the same period. In the first quarter 30,692 (+13.9%) electrified vehicles of the BMW and MINI brands more >>
BMW Group focuses on flexibility and solidarity in dealing with Coronavirus Pandemic
06.04.2020
Protecting employees and taking responsibility for society - Safeguarding liquidity and the company’s long-term success -  Around 80% of retail outlets closed in Europe; 70% in the US -  BMW Group sells 477.111 vehicles in first quarter -  Pieter Nota: “China shows first signs of recovery” more >>
Groupe PSA signs an additional € 3 billion syndicated loan
06.04.2020
In the current Covid-19 context, Groupe PSA strengthens its financial security with a new syndicated loan amounting to €3 billion in addition to the existing €3 billion undrawn confirmed line of credit for a total amount of € 6 billion. This syndicated loan ha more >>
Volvo Cars reports first quarter global sales
03.04.2020
Volvo Cars sold 131,889 cars in the first quarter of 2020, down 18.2 per cent compared with the same period last year. The company’s global sales performance was affected by the continued impact of the Coronavirus pandemic.In March, Volv more >>
Postponement of the Peugeot SA Shareholders’ General Meeting
02.04.2020
In the context of the Covid-19 epidemic around the world, the Managing Board of Peugeot S.A., in agreement with the Supervisory Board, has decided to postpone the Annual Shareholders’ General Meeting, initially scheduled on May 14th, to June 25th, 2020 A press release will be issued at a later date to inform shareholders of the arrangements for this Shar more >>
BMW of North America Reports Q1 2020 Sales Results
02.04.2020
BMW of North America announced today Q1 2020 sales results for the BMW and MINI brands in the U.S.  For the sales period ending March 31, 2020 BMW brand sales totaled 59,455 vehicles, a decrease of 15.3% vs the 70,227 vehicles sold in the same time period last year.* more >>
American Honda Reports March Auto Sales in the Face of Difficult Market Conditions
02.04.2020
After a strong start to 2020, American Honda sales fall 48% in March due to impact of COVID-19 pandemic American Honda     Q1     Total 298,785 -19.2%Cars 131,845 -22%Trucks more >>
Kia Motors America Announces March Sales
02.04.2020
Best-Ever First Quarter Sales of the Sportage SUVKia Motors America today announced March sales of 45,413 vehicles, led by the Optima and Forte. The first three months of 2020 saw the Sportage SUV – Kia’s longest-running nameplate in the U.S. – realiz more >>
Henrik Wenders is responsible for the Audi brand, Sven Schuwirth focuses on the Digital Business
01.04.2020
Henrik Wenders is taking over responsibility for the realignment and global marketing of the brand with the Four Rings. As Senior Vice President Audi Brand he will be in charge of Brand Strategy, Customer Insights and Brand Communication as well as Digital, Experiential and Sports Marketing. Sven Schuwirth, who previously held the position, will be responsible for the area „Digital Experi more >>
Kia Motors announces March global sales
01.04.2020
Kia Motors Corporation today announced its March 2020 global sales results, recording a total of 226,960 units sold, which represents 6.4 percent decrease from March 2019.Globally, the Sportage SUV was at the top of Kia’s sales with 28,977 units sold, followed by more >>
Porsche SE: Postponement of the Annual General Meeting 2020
31.03.2020
Originally planned date cannot take place due to the Corona pandemic / New date is being soughtThe Annual General Meeting 2020 of Porsche Automobil Holding SE (Porsche SE), Stuttgart, will be postponed against the background of existing bans on meetings in connection with the spread of the corona virus. The event, whic more >>
Matthew Weaver appointed Vice President, Nissan Design Europe
31.03.2020
    Currently Design Director at Nissan's London-based design studio    Long resumé, including work on Qashqai, Juke and Infiniti modelsNissan's design function within Europe has been refr more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for February 2020
30.03.2020
February 2020     Fiscal Year 2019 (19/04-20/2)     Calendar Year 2020 (20/1-20/2) Volume     YoY(%)     Volume     YoY(%)     Volume     YoY(%)   more >>
Sales of Lexus Hybrid SUVs reach quarter of a million milestone in Europe
30.03.2020
    Lexus announces sales of its hybrid SUV/crossover models in Europe have passed 250,000 units    Landmark total achieved at the end of February 2020, comprising cumulative sales of RX, NX and UX hybrid models since the launch of the RX 400h in 2005, the world’s first luxury hybrid vehicle    SUV/cr more >>
UK Car production steady in February, down -0.8% as sector braces for Coronavirus impact
28.03.2020
UK CAR MANUFACTURING (data for February)    UK car production declines -0.8% in February, with some 1,033 fewer units made.    Output for domestic market climbs 7.8% while exports fall -3.1% to 94,999, reflecting fundamentally s more >>
UK Commercial Vehicle manufacturing down -13,6% in Februar as sector supports fight against Coronavirus
28.03.2020
UK COMMERCIAL VEHICLE MANUFACTURING    British commercial vehicle output falls -13.6% in February, with 7,980 units produced.    Exports drive decline, down -26.2%, as output for UK market rises by 417 units.    Crucial commercial vehicle sector calls for more government action to ensure uninterrupted more >>
Volvo Cars restructures executive management
27.03.2020
Volvo Cars is restructuring its executive management, starting 14 April, to effectively position the company to capture business opportunities from the transformation of the automotive industry.Unde more >>
Kia Motors Corporation appoints Ho-sung Song as President
27.03.2020
    Song will spearhead advancement of company’s mid- to long-term strategy ‘Plan S’    Song’s extensive experience across automotive value chain, expertise in overseas operations are expected to help company’s transition to future businesses — electric vehicles and mobility solutions more >>
Mitsubishi Motors Corporation Personnel Change
27.03.2020
MITSUBISHI MOTORS CORPORATION today announced the following important personnel change effective March 26, 2020. Important Personnel ChangesEffective March 26, 2020  more >>
Market primer: central banks
26.03.2020
Gold plays a prominent role in reserve asset management, being one of the few assets that is universally permitted by the investment guidelines of the world’s central banks. This is in part due to the gold market being deep and liquid – a key requirement of reserve asset managers. more >>
SEAT posts positive financial results and faces a challenging year
25.03.2020
    Double-digit sales growth drives key financial indicators to record figures    Profit after tax goes up by 17.5% and reaches 346 million euros    SEAT devoted 1.259 billion euros to investments and R&D expenses (+3%)    Carsten Isensee: “The 2019 results provide a solid foundati more >>
Groupe Renault postponement of the annual general meeting of shareholders
25.03.2020
In the current uncertain context due to the coronavirus pandemic worldwide, Renault’s Board of Directors has decided to postpone the Annual General Meeting of shareholders scheduled for April 24, 2020 to a future date in May or June.The Board of Directors is keen to encourage more >>
Porsche SE: Group profit after tax increases by 26.3 percent to 4.4 billion Euro
24.03.2020
Double-digit sales growth at PTV Group - Dividend increased to €3.11 per preferred share - AEVA develops key technology for advanced driver assistance systemsThe consolidated profit after tax of Porsche Automobil Holding SE (Porsche SE), Stuttgart, has risen to 4.4 billion Euro in the 2019 fiscal year, an increase of 26.3 per more >>
Polestar announces additional board directors
23.03.2020
    Polestar announces appointment of two additional members to its Board of Directors to accelerate growth and development    David Richter and Yankun Hou join the Polestar BoardTo accelerate the journey t more >>
IMF Closure DC Shutdown
20.03.2020
The IMF has closed its headquarters in Washington, DC indefinitely as a result of the COVID-19 epidemic. The Fund has acknowledged two confirmed cases of coronavirus infection among its staff.Both are recovering, but the I more >>
Porsche's result after an electrifying year
20.03.2020
...innovative, sustainable, successful2019 financial year stands for implementation of important strategic decisionsIn the 2019 financial year, Porsche AG increased deliveries, sales revenue and the operating result more >>
Financial year 2019: AUDI AG achieves its financial targets and sets a course for long-term competitiveness
19.03.2020
CEO Bram Schot: “Exceptional situation due to corona: we are focusing on protecting our employees, contractors and guests and making the right business decisions in this volatile environment.”         In a difficult environ more >>
Daimler issues the first fully digital Schuldschein with LBBW
19.03.2020
    Distributed ledger technology, digital signatures and the DEBTVISION financing platform enable end-to-end digitalization of lending    New digital procedure used for the first time legally effective for Daimler AG Schuldschein of € 25 million    First platform-marketed, legally effective and comple more >>
Automobili Lamborghini achieves record figures in Fiscal Year 2019
19.03.2020
Coronavirus poses significant challenges for 2020     In 2019 turnover grows by 28% from 1,42 to 1,81 billion Euro    Worldwide sales increase by 43% from 5,750 to 8,205 units    Strong s more >>
Streaming of Porsche annual press conference
19.03.2020
  On Friday, 20 March, 2020, Oliver Blume (Chairman of the Executive Board) and Lutz Meschke (Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT) will present an overview of the 2019 fiscal year results of Porsche AG.   &nbs more >>
Innovation leadership: BMW Group plans over 30 billion euros on future-oriented technologies up to 2025
18.03.2020
Zipse: “Solidarity and responsible action are called for” - Guidance 2020 affected by corona spread - Power of Choice: Next BMW 7 Series all-electric version - Unequivocal commitment to meeting CO2 targets more >>
Volkswagen brand about to leap into the electric era
18.03.2020
 Rise in deliveries to 6.3 million in 2019, despite declines in overall market  Operating margin before special items increased to 4.3 percent  Start of second phase of TRANSFORM 2025+ strategy with focus on e-mobility and digi more >>
Cavendish Advises Leading Construction Recruitment Firm Falcon Green on Sale of a Minority Stake to Two Private Business Investors
17.03.2020
The investment will help Falcon Green accelerate its growth and take advantage of the Government’s latest drive in public housing construction and infrastructure projects Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A f more >>
2001-2021 copyright automobilsport.com