Renault intends to start conquering the international electric car market by opening a new car assembly facility in China, which it plans to co-own with the local Jiangling Motors Corporation Group (JMCG).
The Chinese conglomerate has been producing JMEV-branded electric vehicles since 2015, and currently has six different models on the lineup. It sold around 50,000 EVs in 2018.
The marque’s latest addition is the EVeasy EV3 (E300), which came out in March 2019. The supermini hatchback is only 3.72 meters (12.2 feet) long and commands 68 hp (51 kW) along with 180 Nm (133 lb-ft) of maximum torque. Powered by a 31.9 kWh battery, it can cover up to 380 kilometers (236 miles) on a single charge.
The French car manufacturer plans to invest 1,000,000,000 Chinese Yuan into the joint enterprise and thus gain a 50% share in it. The sum roughly corresponds to €130,000,000 or U.S. $145,500,000.
Signing the deal would grant JMCG access to Renault technologies, as well as open China’s EV market for the latter company.