CHINA: Renault CEO 'very optimistic' on Dongfeng joint venture talks
Renault says it is "very optimistic" in discussions with Chinese manufacturer, Dongfeng Motor Group concerning a potential joint venture, but is declining to reveal further details.
The French automaker has been in talks with Dongfeng following a memorandum of understanding [MoU] inked in March and although details are sketchy, including whether any joint venture could set up a $1bn factory in China, it appears the deal is being discussed at the very highest level.
"Things are going along just as planned and [CEO] Carlos Ghosn is very optimistic," a Renault spokeswoman told just-auto from Paris. "We can't comment on any of the figures - it is just speculation from anonymous sources.
"Negotiations are on-going - we can't communicate on any of the articles in the press because we are bound to confidentiality. We signed an MoU at Dongfeng last March ahead of the Beijing Auto Show and we said we planned to arrive at a final agreement at the end of the year, but it could be sooner or later than that."
Dongfeng Motor is China's second largest automaker in terms of sales and has a joint venture with Nissan.
Renault sales in China last year were 24,000 units.
Vehicle assembly in Colombia began in 1956 when the government signed an agreement to build Austin trucks locally. Colombian entrepreneurs soon saw the opportunity to invest in technology to be part o...
After announcing an after-tax operating loss of A$141m for the 2012 financial year, following a A$290m loss in 2011, Ford has finally thrown in the manufacturing towel in Australia and will close its ...
Nissan is recalling over 800,000 Cube/Micra models because of a faulty steering wheel....
Continental has developed a new Multimedia Radio Navigation (MRN) System for the PSA Peugeot Citroën Group in China....
Deliveries from the Volvo group's truck operations in April 2013 amounted to 16,572 vehicles. This was a decrease of 2% compared with the year-earlier month....
Toyota has reasserted itself as the world's most valuable car brand, replacing BMW, rated the top brand in the Millward Brown survey in 2010 and 2012. Toyota held the top spot in 2006-2009 and again i...
Mitsubishi Motors began production of a new mini-car at its Mizushima plant in Kurashiki, Okayama Prefecture, Japan, this week. ...
Mitsubishi Motors began production of a new mini-car at its Mizushima plant in Kurashiki, Okayama Prefecture, Japan this week....
- THE WEEK THAT WAS - Scion and Ford workers' chop
- Clio R.S. 220 Trophy & future Renaults
- January 2016, management briefing (Part 2)
- THE WEEK - New car, mergers, results, Iran
- Yanfeng Automotive Interiors VP Q&A
- New Ford plant for Mexico & Prius rival - report
- Daimler posts record sales – investors unimpressed
- Ford Europe looks to cut staff
- Geneva premieres list - Ferrari GTC4Lusso
- Volvo nixes range extenders