China's National Development and Reform Commission (NDRC) today (5 December, 2013) appproved the Dongfeng Renault Automotive Company (DRAC) joint venture.

"Dongfeng Motor and Renault welcome the approval from the Chinese authorities for their joint venture," the pair said in a statement.

Renault currently imports vehicles into China but noted it was now "partnering with a heavyweight of the Chinese automotive industry"which already builds vehicles in a separate JV with the French automaker's alliance partner Nissan.

"This [Dongfeng] alliance will allow Renault to deploy its ambitious strategy in the world's largest automotive market," the automaker said.

Dongfeng sees opportunity to further consolidate global resources and achieve rapid development in China while Renault will strengthen its scale and depth in the Chinese market and extend its industrial footprint.

Cooperation will include research and development, purchasing, manufacturing and marketing.

An official signing ceremony will be on 16 December.

Show the press release

05/12/2013 - NDRC approves Dongfeng-Renault Joint Venture

     

 

FOR IMMEDIATE RELEASE                                                        158 WORDS

THURSDAY 5TH DECEMBER 2013

NDRC APPROVES DONGFENG-RENAULT JOINT VENTURE

On 5th December, Dongfeng and Renault received the National Development and Reform Commission (NDRC) approval for the Dongfeng Renault Automotive Company (DRAC) joint venture.

Dongfeng Motor and Renault welcome the approval from the Chinese authorities for their joint venture. Renault, already present on the imported vehicles market in China, is partnering with a heavyweight of the Chinese automotive industry. This alliance will allow Renault to deploy its ambitious strategy in the world's largest automotive market.

Dongfeng will use this opportunity to further consolidate global resources and achieve rapid development in the automotive market. Renault will use this opportunity to strengthen its scale and depth in the Chinese market and extend its industrial footprint. With the support of both Dongfeng Motor and the Renault-Nissan Alliance, stakeholders of both sides will push forward close cooperation in every sector, notably research and development, purchasing, manufacturing and marketing.

The signing ceremony will take place on 16th December.

Original source: Renault