Renault-Nissan to set up new China JV with Dongfeng Motor for electric cars
The carmakers are attempting to tap into a boom for such cleaner "new energy" vehicles in the world’s biggest car market and gearing up to meet its anticipated stringent plug-in car quotas.
Ford announced earlier this month it was exploring setting up a joint venture with car maker Anhui Zotye Automobile to build electric vehicles in China under a new brand.
Tesla, Daimler, and General Motors have already announced plans for making electric vehicles in China, which wants electric and plug-in hybrid cars to make up at least a fifth of the country's car sales by 2025.
The new joint venture, called eGT New Energy Automotive Co, will be owned 25% each by Nissan and Renault with Dongfeng owning 50%, Nissan and Renault said in a statement.
They said eGT will design a new electric vehicle on a subcompact crossover SUV platform of the Renault-Nissan alliance. ■