Renault will expand its EV presence in China through acquisition
Renault Group and Chinese company JMCG announced an agreement in the EV field, according to which Renault Group will take a “significant stake” of JMEV (electric vehicle subsidiary of JMCG). – Insideevs.com
The JMEV is described as one of the main EV players in China, with several models on the market and sales result of 37,000 in 2017 and 50,000 expected in 2018. In other words, total sales of JMEV is pretty similar to Renault results in Europe.
Wan Jianrong, General manager of JMCG, stated:
Groupe Renault is a eminent eautomaker with leading electric vehicle business in Europe. JMEV’s cooperation with Groupe Renault therefore, will promote its future development that fits JMCG’s strategy.”