Renault Group and Geely strengthen their cooperation with the completion of a partnership in Brazil

Core Insights - Renault Group and Geely have completed definitive agreements to enhance their strategic cooperation in Brazil, focusing on the production and sales of zero and low-emission vehicles [1][6] - Geely has acquired a 26.4% stake in Renault do Brasil, while Renault Group remains the majority shareholder, allowing Geely access to Renault's industrial and commercial resources [2][6] - The partnership aims to leverage Geely's new energy architecture and Renault's production capabilities to increase competitiveness in the Brazilian automotive market [3][4] Company Developments - The partnership will enable Renault do Brasil to produce both Renault and Geely Auto branded vehicles at the Ayrton Senna plant, enhancing production capacity [3][4] - Renault do Brasil will distribute Geely Auto's portfolio of zero and low-emission vehicles, creating new growth opportunities in sales and services [4][6] - The collaboration is part of Renault Group's broader international strategy to expand its presence in Latin America, a key market accounting for over 40% of vehicle registrations in the region [4][6] Leadership Statements - François Provost, CEO of Renault Group, emphasized that the partnership represents a significant step in their international strategy, enhancing competitiveness and innovation [5] - Eric Li, Chairman of Geely Holding Group, highlighted the win-win scenario created by the cooperation, allowing both companies to leverage global technology scales [5] Market Context - Geely sold over 3.33 million vehicles in 2024, with a 29% year-on-year growth in sales during the first nine months of 2025 [9] - Renault Group sold 2.265 million vehicles in 2024 and aims for carbon neutrality in Europe by 2040 [10][11]