Groupe Renault and JMCG establish a joint venture for electric vehicles in China
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 China, following a first agreement on December 20, 2018.
Groupe Renault will increase its share capital by 128.5 million euros to become a major shareholder of JMEV (a JMCG subsidiary) with a 50% stake.
Through this joint venture, Groupe Renault will be able to expand its influence in China’s electric vehicle market, while JMCG will be able to integrate and leverage more resources, which will promote its rapid growth in the future.
JMEV will continuously complete its deployment in EV and connectivity technologies and strive to build a full range of new vehicles to support the EVEASY Brand.