"As a leading global automotive company, the Renault Group is entering the China Light Commercial Vehicle Market with broad prospects and great potential," said Carlos Ghosn, Chairman and CEO of Renault Group. "The light commercial vehicle on this market is 3 million. With the cooperation of Brilliance China Automotive Holdings Limited, Renault Group hopes to become a leading light commercial vehicle company in the Chinese market.We will bring our management knowledge and product technology to China.
Brilliance Group Chairman Qi Yumin said that as a veteran China Light Commercial Vehicle Company, Brilliance Gold Cup is working with the Renault Group Light Commercial Vehicle Division to provide their expertise in the light commercial vehicle market in China as well as production equipment, engineering resources and sales Network to joint venture. With the strong support of government agencies, we believe that the newly established joint venture can be fully operational in the near future to meet the needs of Chinese customers and shareholders.
"We are confident that the new joint venture will not only improve the current level of operation of the vans, but will also be used by the Brilliance Gold Cup and the Renault Group," said Wu Xiaoan, Chairman of Brilliance China Automotive Holdings Limited. "With our extensive experience in operating the automotive business with our industry partners, Light commercial vehicle business brings new opportunities for development. We also believe that the Renault Group will be an important participant in the Chinese market.
In addition to the existing Brilliance Jinbei Automobile, the joint venture will also use Brilliance Gold Cup and Renault brand development, production and sales of new cars and services.
Whether the cooperation between Renault Group and Brilliance China Automotive Holdings Co., Ltd. can reach the consent of the regulatory authorities of China and Hong Kong and the shareholders of Brilliance China Automotive Holdings Limited.
About Renault Group
About Brilliance China Automotive Holdings Limited
Brilliance Automotive Group is committed to passenger cars and auto parts production and sales, mainly through the Shenyang Brilliance Jinbei Automobile Co., Ltd. and other operating subsidiaries in the country for sale. In 2016, Shenyang Brilliance Jinbei Automobile Co., Ltd. sold 62,673 vans and multi-purpose vehicles nationwide. In 1990, Shenyang Brilliance Jinbei Automobile Co., Ltd. began to produce and sell Brilliance Jinbei van, has sold more than 130 million van.
In addition to the van and auto parts business, Brilliance China Automotive Holdings Limited also has a large joint venture Brilliance BMW 50% of the shares. BMW Brilliance is committed to the production and sale of BMW cars in the Chinese market.
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