Major Chinese carmaker to form hybrid vehicle venture with Renault

Economy

Major Chinese carmaker Zhejiang Geely Holding Group said Monday that it will form a joint venture with France's Renault SA to develop a hybrid vehicle business in China and South Korea. The agreement comes as China has been eager to phase out new sales of gas-powered cars and bring eco-friendly ones to the mainstream by 2035, while President Xi Jinping has pledged to make the country carbon neutral by 2060. The two automakers have broadly agreed to produce and sell Renault-branded petrol-electric hybrid cars using Zhejiang Geely's technologies. Earlier this year, Zhejiang Geely also said its g...

Kyodo News

Kyodo News Asia