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According to the terms of the deal, Renault–Nissan is investing 23₽ billion (US$742 million) for 67.13% of the joint venture by mid-2014. As part of the deal, Renault–Nissan chairman and CEO Carlos Ghosn will become chairman of the board of the joint venture, called Alliance Rostec Auto BV.
The factory was opened on February 9, 2012, [3] [4] inaugurated by the King of Morocco, Mohammed VI, in the presence of then Renault Group CEO Carlos Ghosn. [5] Around one billion euros were invested in the construction of the plant.
The joint venture shares the production line and supply chain with Dongfeng Nammi [4] and produces the electric city car targeted at European market. Its main products, the Renault Group's Renault City K-ZE/ Dacia Spring, Seres Group's Fengon E1 and Nissan's Vanucia E30 (second generation) are rebadged by Dongfeng's Nano Box and EX1 city car.
The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive ...
Carmakers Renault and Geely have announced a joint venture to build engines for hybrid and gasoline-powered vehicles, with the partners investing a maximum of €7 billion ($7.7 billion) in total.
The joint venture project was announced in November 2022 and codenamed Horse project by Renault and Rubik project by Geely. [1] [2] The Renault Group and Geely namesake brands would be the first to receive the powertrains and they would later be supplied to Dacia, Volvo, Lynk & Co and Proton cars, [3] as well as Nissan and Mitsubishi Motors ones. [4]
Renix Electronique S.A. was established in 1981 as a joint venture by Renault with 51% interest and Bendix with 49% that was headquartered in Toulouse. [1] Renix Corporation of America was the North American subsidiary of Renix Electronique to provide sales, logistics, engineering, and quality support to American Motors.
It has subsidiaries in Argentina, Brazil, Colombia, Algeria, Morocco, Ukraine, South Korea, and the European Union and joint-ventures in Russia, Turkey and India. [2] The firm has developed online vehicle sales. In Brazil, 20% of the Renault KWID models sold in 2018 were booked online using RCI e-payment.