On April 14, Renault group unveiled a new strategy for the Chinese market.The strategy is based on two pillar businesses - electric cars and light commercial vehicles.

About dongfeng Renault motor co., LTD. (fuel oil passenger car)

    Regarding fuel oil passenger vehicles, Renault group has reached a preliminary agreement with dongfeng motor group co., ltd. to transfer the shares held by Renault group in dongfeng Renault motor co., ltd. to dongfeng motor group co., LTD.Dongfeng Renault motor co., ltd. will cease to carry out business activities related to the Renault brand.

    Renault will continue to provide quality customer service to 300,000 Renault owners in China through Renault dealers and through the alliance's collaborative mechanism.The development of Renault brand passenger cars will be detailed in Renault's new medium-term development plan.

    Dongfeng motor group co. Ltd. plans to transform and upgrade dongfeng Renault.According to the overall strategic layout, dongfeng motor group co., ltd. continues to be committed to achieving high-quality development and technological and business model innovation.

    Dongfeng motor group co. Ltd. and Renault group will also strengthen cooperation with nissan motor co.Ejieit, a joint venture between the three parties, has become a success story in the field of electric cars.In addition, Renault group and dongfeng motor group co. Ltd. will continue to work with nissan on a new generation of engines.The deal includes supplying components to dongfeng Renault, which dongfeng will take over, and licensing diesel engines to dongfeng motor co.Renault group and dongfeng motor group co. Ltd. will also carry out innovative cooperation in the field of intelligent networked vehicles.

About China's light commercial vehicle market

    With the acceleration of urbanization, the rise of e-commerce, the emergence of urban transportation schemes, and the increasing diversification of customer demand, China's light commercial vehicle market has been developing rapidly.In 2019, China's light commercial vehicle sales reached 3.3 million units, with the market maintaining an upward trend.

    Founded in December 2017, brilliance Renault golden cup automobile co., ltd. is an important base for Renault group to develop its light commercial vehicle business in China.

    Renault is a market leader in light commercial vehicles and electric light commercial vehicles in Europe.As a household name, jinbei has 1.5 million disc users in China.In 2019, about 162,000 jinbei brand cars were sold.

    After introducing Renault's advanced technology and management experience, brilliance Renault jinbei automobile co., ltd. plans to realize the modernization and upgrading of jinbei models, expand the company's product line, and launch five core competitive models by 2023.Its vehicles will also be exported to overseas markets.

About China's electric car market

    China is now the world's largest market for electric cars.In 2019, 860,000 electric cars will be sold in China.By 2030, electric vehicle sales are expected to account for 25 per cent of China's total car market.

    As a pioneer and leader in the field of electric vehicles, Renault group has sold nearly 270,000 electric vehicles globally in the past decade.The successful launch of Renault e nuo's electric car demonstrates its strong competitive advantage in the Chinese market.In the class A market segment, Renault e nuo is the only joint venture brand electric car.

    Renault group will continue to strengthen cooperation with nissan and dongfeng in the joint venture project of ejieit new energy automobile co., LTD., and develop the Renault City k-ze (Renault e nuo in Chinese) into a global model.The European version of k-ze will be based on the "Dacia Spring" concept and will be available in Europe in 2021.

    Established in 2015, jiangling group new energy automobile co., ltd. is a flexible and efficient electric vehicle enterprise.JMC new energy will introduce Renault's advanced quality management system and technology to launch four core models by 2022, covering 45 percent of the major models in China's ev market segment.

    This new strategy will enhance Renault group's competitive advantage and achieve long-term development in the Chinese market.Moreover, under the new "leader-follower" concept of the renault-nissan-mitsubishi alliance, this strategy will fully enhance the synergies of the alliance.

    Francois Provost, chairman of Renault in China, said: "Renault group has opened a new chapter in the Chinese market."We will focus on electric vehicles and light commercial vehicles, drive green mobility in the future, and leverage Renault's partnership with nissan more effectively."