Renault, Geely Sign MoU To Develop Hybrid Vehicles In China And South Korea

France's Renault Group and China's Geely Holding signed a memorandum of understanding to create a long term strategic partnership, which will initially focus on the development of hybrid vehicles in China and South Korea, the companies said in a statement.

In China, the companies will jointly introduce Renault-branded hybrid vehicles. Renault will contribute on branding strategy, channel and service development, defining appropriate customer journey.

In South Korea, the MoU allows Renault Group and Geely Holding to jointly explore localization of vehicles based on Lynk & Co's energy-efficient vehicle platforms for local markets.

The companies noted that they will enhance their competitive advantages in technology and industrial systems to create leading mobility experience.

In a separate press release, Renault Group and Vulcan Energy announced a five-year strategic partnership within the Zero Carbon Lithium Project, securing between 6,000 and 17,000 metric tonnes per year of battery grade lithium chemicals.

Renault noted that the agreement with Vulcan is in line with its strategy to offer competitive, sustainable and 'made in Europe' electric vehicles.

Th partnership with Vulcan Energy will allow Renault Group to avoid from 300 to 700 kg of CO2 for a 50 kWh battery.

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