It's a good thing.
On the 2nd, the National Development and Reform Commission finally approved the Dongfeng Renault Automobile Co., Ltd., a joint venture between China Dongfeng Motor Group Co. and Renault of France.
At this point, this non-mainstream car brand that is outside China's auto market may be able to usher in the opportunity to flex its muscles. Previously, this second-largest car brand in France has been away from the mainstream Chinese auto market for many years.
It has missed a decade of gold growth. In fact, the joint venture dream between Dongfeng and Renault began to sprout in 2003. However, due to the differences in the location of the project and the disposal of Sanjiang Renault, it has not been able to achieve substantial progress. .
However, Renault has finally made up his mind by the rapidly growing market potential in China. As early as December 19 last year, Hubei Province Environmental Protection Agency and Wuhan Environmental Protection Bureau published a public document entitled “The Environmental Impact Assessment of 150,000 Passenger Vehicles for Dongfeng Renault Automobile Co., Ltd.â€. On May 31 this year, the SASAC approved the transfer of state-owned equity of Sanjiang Renault Automobile Co., Ltd. At the beginning of June this year, Dongfeng Motor Corporation handled the registration of Dongfeng Renault by Sanjiang Renault. On December 2, Dongfeng Renault dust settled.
In any case, Renault has already missed the golden growth of China's auto industry for the last decade. As the last multinational car brand entering the Chinese passenger car market, Renault’s market cake has been very small.
The factory is completed by the end of next year
According to the Dongfeng Group Board’s approval of the joint venture contract with Renault, Dongfeng Renault invested a total of RMB 7,755.6 million, and each of them holds 50% of the registered capital of the joint venture company. The previous EIA documents showed that Dongfeng Renault will invest 7.2 billion yuan, and today this investment fund is 555.6 million yuan more than originally planned.
It is understood that Dongfeng Renault's vehicle plant has already begun construction of a base in the Wuhan Golden Port Industrial Zone, with an overall planned production capacity of 300,000, of which 150,000 are planned for passenger vehicles and engines. The factory is expected to be completed by the end of next year and will be put into production in early 2015. The first domestic model will be Koreo. If successful, the two companies also plan to build a second plant in Wuhan in 2017, increase the total production capacity to 300,000 units, and introduce 600,000 engines at the same time.
In terms of personnel, Renault Global Vice President and Group General Manager Jacques Daniel will be the president of Dongfeng Renault, and former Dongfeng Motor Legal and Securities Affairs Minister and Capital Operation Director Hu Xindong will be the Vice President of the joint venture company, the former Dongfeng Nissan Marketing Vice President Chief Minister Chen Hao will be responsible for market sales.
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