Renault Samsung Motors to Produce Renault-Geely Eco-Friendly New Cars Starting 2024

[Asia Economy Reporter Changhwan Lee] Renault Samsung Motors announced on the 21st that it will research, develop, and produce joint models including eco-friendly vehicles with the Renault Group and China's largest private automotive group, Geely Holding Group, and launch them domestically starting in 2024.

The Renault Group and Geely Holding Group reached a final agreement on mutual cooperation on the same day, focusing on the release of joint models for the Korean market.

The joint models of the two companies will be developed and introduced as new products tailored to domestic consumers' preferences by Renault Samsung Motors' researchers, based on Volvo's CMA platform under Geely Holding and the latest hybrid technology.

To this end, Geely Holding will provide technical support centered on its research and development (R&D) center located in Sweden, while the Renault Group will be responsible for vehicle design.

Geely Holding's CMA platform is characterized by high flexibility, applicable to internal combustion engine, hybrid, plug-in hybrid vehicles, as well as pure electric vehicles.

Currently, vehicles using the CMA platform are being introduced across various brands under Geely Holding, including Volvo's XC40 and C40, Geely Automobile, and Lynk & Co.

The joint models, equipped with industry-leading intelligent advanced technologies, will be produced at Renault Samsung Motors' Busan plant starting in 2024 and launched in the domestic market under the Renault Samsung Motors brand, ranging from hybrid to internal combustion engine vehicles.

The Busan plant of Renault Samsung Motors, which will produce the joint models, is an optimal mixed-production factory capable of simultaneously producing up to eight models across four platforms on a single assembly line, regardless of internal combustion engine, hybrid, or electric vehicles.

Renault Samsung Motors explained that with this decision, it can establish a new business plan that utilizes not only the existing Renault-Nissan-Mitsubishi Alliance but also the lineup and technical resources of Geely Holding Group.

Dominique Signora, CEO of Renault Samsung Motors, emphasized, “With this decision, Renault Samsung Motors will be able to meet domestic consumers with a broader lineup of eco-friendly vehicles. In particular, Renault Samsung Motors being at the center of cooperation between the Renault Group and Geely Holding Group means that the role and responsibility of Renault Samsung Motors have increased from a global partnership perspective.”