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Renault pulls out of China, drops Dongfeng's joint venture in Wuhan
来源： 编辑：编辑部 发布：2020/04/17 09:39:59
FRENCH automaker Renault has decided to stop selling petrol cars in China, pulling out of its loss making joint venture with Dongfeng in Wuhan, reported London's Financial Times.
The Paris-based carmaker said it had an agreement with Dongfeng to sell out of the 50-50 joint venture between the two partners, Dongfeng Renault Automotive Company (Drac).
The sale will also transfer full control of its plant in Wuhan, which was opened by former boss Carlos Ghosn in 2016, to Dongfeng and mean that Drac will stop selling Renault-branded cars.
"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 François Provost, chairman of the China business for Renault.
The Paris-based carmaker said it had an agreement with Dongfeng to sell out of the 50-50 joint venture between the two partners, Dongfeng Renault Automotive Company (Drac).
The sale will also transfer full control of its plant in Wuhan, which was opened by former boss Carlos Ghosn in 2016, to Dongfeng and mean that Drac will stop selling Renault-branded cars.
"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 François Provost, chairman of the China business for Renault.