Renault reaches an agreement with JMCG for the development of EV in China
The Renault Group has signed an agreement with Jiangling Motors Corporation Group for the development of electric cars in the Chinese market.
The French Group will take a significant part of JMEV, a subsidiary of JMCG and one of the main EV player in China, thus completing its offer to increase its presence in the country.
In 2015 JMCG successfully founded JMEV (Jiangxi Jiangling Motors Import Export) in Nanchang, Jiangxi Province, which produced and sold 38,000 electric cars in China in 2017 and plans to deliver 50,000 this year.
The agreement will be examined by the Chinese competent authorities in the first half of 2019 and after the go-ahead, JMCG and Renault expect to close the transaction within the year.