SHENYANG, China, Jan. 10, 2018 /Xinhua-AsiaNet/--
China's Brilliance Auto Group recently entered a deal with the Renault Group to set up the Renault Brilliance Jinbei Automotive Co., Ltd., a joint venture to manufacture light commercial vehicles (LCVs) under the three brands of Jinbei, Renault and Huasong, with an aim to sell 150,000 such vehicles a year by 2022.
It took Brilliance Auto Group only one year to successfully partner with the Renault Group and establish a new mode of cooperation: for the first time in the new era of Chinese automobile industry, the same joint venture will design and produce vehicles of both foreign brands and domestic brands, which will be a world-class platform for developing commercial vehicles.
Brilliance Auto Group Chairman Qi Yumin said that in the past, such a joint venture used to operate a foreign brand and the Chinese side could only use the profits to support the development of its own brand. Now, through the joint venture, the three brands, namely China's Jinbei and Huasong, as well as France's Renault, can advance side by side, which is conducive to a rapid development of China's own brands.
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