Renault, Geely Invest €319 Million in Brazil

Renault and Geely will invest €319 million in their Brazilian joint venture, bringing their combined planned investment in the country to €899 million from 2025 through 2027. The funding will support production beginning in 2027 of a Renault electric vehicle based on Geely’s Global Intelligent Electric Architecture and Renault’s Hybrid E-Tech 4x4 flex-fuel powertrain. The partnership follows Geely’s acquisition of about 26.4% of Renault do Brasil, giving the Chinese automaker access to Renault’s Brazilian plant, dealerships and engineering facilities while Renault retains majority control. The companies are expanding in response to rising competition from Chinese automakers, including BYD, as Geely also prepares to produce its own hybrid and electric models at Renault’s Ayrton Senna plant.