French automaker Renault and China's Zhejiang Geely Holding (GEELY.UL) said in a joint statement on Monday that they have reached an agreement to produce and sell zero- and low-emission vehicles in Brazil.
Renault SA is forecasting roughly stable returns this year as the French manufacturer continues an overhaul of its lineup to counter muted demand for electric vehicles in Europe.
Production and distribution partnership comes as China’s carmakers look for friendly global markets amid US and European tariffs.
South Korean automakers prepare to capitalize on EU tariffs against Chinese EVs Korean manufacturers eye European market opportunities amid tariffs on their Chinese rivals
Chinese EV maker Geely expands into Brazil through a partnership with France’s Renault; The parent company of Calvin Klein and Tommy Hilfiger is blacklisted by China; and Canadian Solar is sued by China’s Trina Solar over patent infringement.