Chinese company Geely, which owns French automotive company Renault and Swedish Volvo, announced that it has reached an agreement to sell hybrid cars in China. In the statement, it was stated that hybrid cars will be produced under the Renault brand.
French automotive company Renault and the owner of Swedish Volvo, Chinese Geely, announced that they will jointly develop a hybrid vehicle.
The companies said in a statement that they will jointly develop gasoline-electric hybrid vehicles for the Chinese and South Korean markets, just one year after Renault terminated its operations in China.
In a statement from the companies, it was stated that Renault will use Geely's newly launched hybrid car system to jointly develop under its own brand in China, where more than 25 million vehicles were sold last year.
While the French company and Geely announced that they will produce under the Renault brand, he stated that they plan to make cars based on the platforms of Lynk & Co, a hybrid-oriented brand founded by Geely in 2016.
Last year, Geely and Daimler said that China could emerge as a manufacturing and export hub for hybrid powertrains to develop Volvo and Mercedes-Benz cars.
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