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Core Viewpoint - Geely and Renault have signed a strategic cooperation agreement to deepen their partnership in the Brazilian market, focusing on the production and sales of new energy vehicles [1][2] Group 1: Agreement Details - Geely has acquired a 26.4% stake in Renault Brazil, while Renault retains its status as the controlling shareholder and will consolidate financial statements [1] - Renault Brazil will act as a dealer for Geely's new energy products in Brazil, creating new growth opportunities in sales, finance, and after-sales services [1] - Geely's electric SUV model EX5 will be sold through Renault's brand dealer network across Brazil [1] Group 2: Market Expansion and Collaboration - The partnership will enable Renault to leverage advanced new energy technologies to expand its product line and meet the electric vehicle demand in Brazil [1] - The Elton Sena industrial park in southern Brazil will produce both Renault and Geely brand products, enhancing capacity utilization and competitiveness [1] - Industry experts believe this collaboration will facilitate Geely's international product strategy by utilizing Renault's established channels and factories in Brazil [1] Group 3: Historical Context - Geely and Renault have a history of collaboration, including a memorandum of understanding in 2021 and a 34.02% stake acquisition in Renault Korea in 2022 [2] - In July 2023, they signed a 50:50 joint venture agreement to develop hybrid and efficient fuel powertrains globally [2] - The current agreement marks another significant milestone in their strategic partnership, with both companies aiming to explore new markets and opportunities [2]