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Renault, Jiangling Motors Form JV To Develop Electric Vehicles In China

French automaker Renault SA (RNSDY.PK,RNSDF.PK,RNT.L) will invest RMB 1 billion or 128.5 million euros for a 50% stake in a venture with Chinese automaker Jiangling Motors Corp. to develop electric vehicles in China.

The companies established their joint venture to further promote the development of the EV industry in China, following a first agreement in late last year.

The Chinese entity was created in 2015 and already holds certification to manufacture battery-electric passenger cars, Renault said today.

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