Tag: Renault

Groupe Renault and Coscharis Group start partnership to produce and distribute Renault vehicles in Nigeria

The Coscharis Group plant will start assembling Renault Logan and Renault Duster and will distribute the cars through their sales network throughout the country starting October 2019. Groupe Renault is leader in Africa with 18% market share.   Boulogne-Billancourt and Lagos – July 18, 2019 – Groupe Renault and Coscharis Group mark today the start… Continue reading Groupe Renault and Coscharis Group start partnership to produce and distribute Renault vehicles in Nigeria

Renault’s Senard expects Nissan’s new board to embrace alliance

PARIS (Reuters) – Renault (RENA.PA) is confident that alliance partner Nissan’s (7201.T) new board will work to reinforce their partnership as it struggles to turn the page on the Carlos Ghosn scandal, Renault Chairman Jean-Dominique Senard said on Thursday. FILE PHOTO: Renault Chairman Jean-Dominique Senard gestures at the end of a joint news conference in… Continue reading Renault’s Senard expects Nissan’s new board to embrace alliance

Toyota locks in more than a supply of EV batteries in deal with China’s CATL

Toyota needs more than a secure and steady supply of batteries if it hopes to meet its ambitious global sales goal for electric vehicles. If it hopes to compete, the Japanese automaker will need better quality lithium-ion batteries that don’t squeeze profit margins. The automaker is turning to Chinese EV battery supplier CATL for the… Continue reading Toyota locks in more than a supply of EV batteries in deal with China’s CATL

Renault invests $144 million into China’s electric vehicle sector

Loic Venance | AFP | Getty Images Auto maker Renault and the Jiangling Motors Corporation Group (JMCG) have officially set up a joint venture for electric vehicles in China.
In an announcement Wednesday, Renault said that the venture would look to “further promote the development” of China's electric vehicle industry.
Renault will increase its share capital by around 128.5 million euros ($144.1 million) to become a major shareholder of JMEV, a subsidiary of JMCG. Renault's stake in JMEV will increase to 50%.
Francois Provost, senior vice president and chairman of the China region for Groupe Renault, described China as a key market for the firm. “This partnership in electric vehicle business with JMCG will support our growth plan in China and our EV capabilities,” Provost added.
Worldwide electric car sales hit 1.98 million in 2018, according to the International Energy Agency (IEA), with global stock reaching 5.12 million.
China's electric car market is the biggest on the planet, the IEA says, with Europe and the U.S. following behind. There were 2.3 million electric cars on China's roads last year, according to the IEA, representing roughly 45% of the world's total.

GROUPE RENAULT AND JMCG OFFICIALLY ESTABLISH A JOINT VENTURE FOR ELECTRIC VEHICLES IN CHINA

•             Groupe Renault will increase its share capital by RMB 1 billion to become a major shareholder of JMEV with a 50% stake.   Boulogne-Billancourt, July 17, 2019 – Groupe Renault and Jiangling Motors Corporation Group (JMCG) announced the official establishment of their joint venture to further promote the development of the EV industry in… Continue reading GROUPE RENAULT AND JMCG OFFICIALLY ESTABLISH A JOINT VENTURE FOR ELECTRIC VEHICLES IN CHINA

Jaguar Land Rover receives £500m government loan guarantee for EV production

Jaguar Land Rover has received a £500 million loan guarantee as part of a new government initiative to support UK car manufacturers’ electrification schemes.  In a meeting of automotive industry leaders at 10 Downing Street, Theresa May announced that the guarantee would be provided by UK Export Finance. The nature of the investment means that if… Continue reading Jaguar Land Rover receives £500m government loan guarantee for EV production

Renault sees new model push as softening sales decline

PARIS (Reuters) – French carmaker Renault (RENA.PA) posted a 6.7% decline in first-half vehicle sales amid a global auto slowdown, but said a forthcoming product offensive would begin to help soften the blow in key markets. FILE PHOTO: The logo of French car manufacturer Renault is seen at their dealership in Haguenau, North Eastern France,… Continue reading Renault sees new model push as softening sales decline

Glare Falls on Nissan’s C.E.O. as Ghosn Fallout Spreads – The New York Times

Nissan’s chief executive, Hiroto Saikawa, is in the toughest fight of his corporate life. And it’s all Carlos Ghosn’s fault. At least that’s what Mr. Saikawa has said for seven months since Mr. Ghosn — the architect of the Nissan-Renault-Mitsubishi alliance — was detained by Japanese prosecutors and accused of financial wrongdoing. Mr. Saikawa, once… Continue reading Glare Falls on Nissan’s C.E.O. as Ghosn Fallout Spreads – The New York Times