Newly formed joint venture for electric vehicles in China

The Renault-Nissan Alliance and Dongfeng Motor Group Co., Ltd. (Dongfeng) announced a new joint venture to co-develop and sell Electric Vehicles (EV) in China. The new joint venture, eGT New Energy Automotive Co., Ltd. (eGT), will focus on the core competencies of each partner and will harness the full potential of the Renault-Nissan Alliance electric vehicle leadership, as well as the resources of Dongfeng in the new energy industry, to meet the expectations of the Chinese market.

eGT will design a new EV with intelligent interconnectivity, that will be in line with the expectations of Chinese customers. It will be jointly developed by the Alliance and Dongfeng on an A-segment SUV platform of the Renault-Nissan Alliance. It will draw on the global leadership on EV technologies and cost-effective car design experience from the Alliance, and the competitive manufacturing costs from Dongfeng.

Renault, Dongfeng and Nissan (China) Investment Co., Ltd. (Nissan) have signed an agreement to set up the new joint venture. Renault will hold 25 percent of eGT, Nissan will hold 25 percent and Dongfeng the remaining 50 percent.

The newly formed eGT is planned to be based in the City of Shiyan, Hubei Province, in central China. The electric vehicle will be produced at the Dongfeng plant of Shiyan, which has a production and sales capacity of 120,000 vehicles a year. Start of production of the new EV is forecast in the year 2019.