Ford recently announced that it has signed an agreement with Anhui Zotye Automobile Co., Ltd. to produce electric cars in China and now Renault-Nissan have announced a similar plan. Renault-Nissan Alliance and Dongfeng Motor Group Co., Ltd. have announced a new joint venture to co-develop and sell electric vehicles in China.
The new joint venture, eGT New Energy Automotive Co., Ltd. (eGT), will see the companies come together to meet the expectations of the Chinese market. eGT will design a new EV with intelligent interconnectivity that will be based on an A-segment SUV platform from the Renault-Nissan Alliance. Renault will hold 25 percent of eGT, Nissan will hold 25 percent and Dongfeng the remaining 50 percent.
“The establishment of the new joint venture with Dongfeng confirms our common commitment to develop competitive electric vehicles for the Chinese market,” said Carlos Ghosn, chairman and chief executive officer of the Renault-Nissan Alliance. “We are confident to meet the expectations of the Chinese customers and to strengthen our global electric vehicle leadership position.”
Production of the new electric car is expected to start in 2019 and will be produced at the Dongfeng plant of Shiyan.