Economy, Auto
0

Renault-Nissan Expands Push in China

Renault-Nissan Expands Push in ChinaRenault-Nissan Expands Push in China

The Renault-Nissan alliance is expanding its push into China, teaming up with Dongfeng Motor Group Co. on its first locally designed electric vehicle as emissions rules tighten in the world’s largest car market. Renault, Nissan and Dongfeng established a joint venture to develop a battery-powered model based on a small SUV platform developed by the French-Japanese alliance, the companies said Tuesday. The vehicle is due to hit showrooms in 2019, Bloomberg reported. Automakers are accelerating electric-vehicle investment in China to meet stricter environmental rules set to take effect in major markets. Starting next year, carmakers that fail to meet fleet-based emissions and fuel-economy limits could face fines under China’s new cap-and-trade framework. Last week, Ford Motor Co. said it will explore setting up a venture with Anhui Zotye Automobile Co. to produce EVs. In May, Volkswagen AG received approval for partnership with Anhui Jianghuai Automobile Group to produce electric cars. Daimler AG and BMW also have electric car brands under their partnerships with BYD Co. and Brilliance China Automotive Holdings Ltd., respectively.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com