As part of the agreements between Renault and Geely, production of cars with internal combustion engines, as well as with hybrid power plants, will begin in South Korea in 2024. They will be built on the modular CMA platform developed by Geely and Volvo in Sweden, and will receive distinctive designs from Renault and Renault-Samsung, according to a joint press release from Renault and Geely.
“This collaboration marks another step in the two automotive groups’ efforts to produce low-emission models and increase their presence in Asian hybrid vehicle markets,” the joint venture said.
According to Reuters, the benefit for Renault is the opportunity to update the model range of its Korean division Renault-Samsung and gain a foothold in Asian markets. Geely, in turn, will be able to begin supplying hybrid vehicles duty-free to the United States through a free trade agreement between South Korea and the United States.
There are rumors that the first model assembled at the Renault Samsung plant under the new joint venture will be the Lynk & Co 01 crossover (pictured under the headline). Today this model is available in petrol, hybrid and plug-in hybrid versions. In South Korea, gasoline and conventional hybrid modifications will likely be assembled.
