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19 07 2019 04

Groupe Renault and Jiangling Motors Corporation Group (JMCG) announced the official establishment of their joint venture to further promote the development of the EV industry in China, following a first agreement on 20 December 2018. Groupe Renault will increase its share capital by RMB 1 billion (about €128.5 million) to become a major shareholder of JMEV with a 50% stake. JMEV has already completed business license registration.

This cooperation is part of the overall strategy of JMCG and Groupe Renault. Through this joint venture, Groupe Renault will be able to expand its influence in China’s electric vehicle market, while JMCG will be able to integrate and leverage more resources, which will promote its rapid growth in the future.

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