Renault, Geely first joint venture vehicle coming soon

The first product under the Renault Korea Motors’ (RKM) joint venture with Chinese automaker Geely is expected to launch in 2024. 

Renault teased the launch of its first vehicle manufactured in partnership with Geely  

In a report by Automotive News Europe, KRM showed a teaser image of the still-unnamed vehicle last week. Depicted as a midsize hybrid crossover sporting a fastback design, the model will be assembled in RKM’s facilities in Busan, to be sold in both South Korean and overseas markets. 

Geely’s involvement means that the new vehicle will use the Volvo Compact Modular Architecture (CMA) Platform, the same one that forms the backbone of other models such as the Volvo XC40 subcompact and Lynk & CO 01 compact crossovers.

The upcoming model will ride on Volvo's Compact Modular Architecture (CMA)

According to Renault, the upcoming model will banner RKM’s all-new range of midsize hybrid electric vehicles (HEVs) based on the latest Geely-Volvo technologies for both local and export markets. The company claims that it will make premium features and leading technology accessible to customers, with updates in either connectivity or sales services to be made available every six months.    

At an October 11 news conference, Renault CEO Luca de Meo bared that the RKM factory will be positioned as an export hub for the brand’s mid- to full-size models. “Korea is a very good platform to export our products,” he said, citing its numerous free trade agreements signed with other countries.   

Renault did not benefit from the "leader-follower" scheme in the Chinese market 

To this end, RKM announced it would be investing more than 900 million euros (around Php 52.2 billion) in South Korea within the next six years. Key areas for the investment will be software, connectivity, and electrification. The company’s Busan plant currently assembles the Arkana compact crossover for Europe, with an annual capacity of 30,000 units.

Renault forged the partnership with Geely in January 2022, seemingly abandoning the “leader-follower” strategy initiated by Nissan in 2020. According to de Meo, the strategy did not benefit Renault where the Chinese market was concerned. 

Set your eyes over the horizon for more new models coming at Philkotse.com.