PARIS, (Reuters) – Automakers Renault and Geely said on Tuesday they will make a new €319 million investment in Brazil, through their joint venture, reinforcing their industrial partnership in the largest Latin American market, where rival BYD has been gaining ground with its affordable pure electric and plug-in hybrid models.
- Renault announced last fall the completion of a deal in Brazil with Geely.
- The new investment brings the companies’ total investments in Brazil to €899 million between 2025 and 2027.
- The agreement allows Geely access to an existing plant and dealership network and will help the French carmaker to use more of the available capacity at its assembly plant and add larger models to its portfolio, Renault has said.
- Renault said its Hybrid E-Tech 4×4 flex-fuel technology will enter production in Brazil in 2027 under a new investment plan.
Reporting by Gilles Guillaume; Writing by Isabel Teles; Editing by Aurora Ellis
