The first production vehicle from Renault Group’s partnership with Zhejiang Geely Holding Group in South Korea will launch in 2024 as a midsize hybrid crossover with a fastback silhouette.
Renault released a silhouette image of the vehicle, which was not identified by name. It will be built in Renault Korea Motors’ factory in Busan, for the South Korean and export markets.
The car will be built on Volvo’s Compact Modular Architecture platform, which underpins a range of Geely-associated cars such as the Volvo XC40 and Lynk & CO 01. No further details were released, except that it would be part of a range of midsize hybrid vehicles.
Renault Korea Motors also said it would invest more than 900 million euros in South Korea in the next six years, with spending on software, connectivity and electrification.
Renault CEO Luca de Meo said Tuesday at a news conference that the Busan factory would be “an export hub for our mid- to large-size vehicles,” according to the Korea Joongang Daily newspaper.
“Korea is very good platform to export our products,” de Meo added, according to the report. “Korea has signed free trade agreements with so many countries, and it has roles as a bridgehead of manufacturing vehicles and exporting them.”
De Meo was in Asia for talks with Nissan over plans to potentially rebalance the automakers' troubled alliance.