Renault is expected to complete its joint venture agreement with Dongfeng Motor Group, China’s second-largest vehicle manufacturer, this month ahead of launching production in the country next year, according to Reuters.

The news agency quoted an unnamed company source who said Renault is waiting for an official invitation from the Chinese industry ministry to finalise the venture which will involve a spend of CNY10bn (US$1.6bn).

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Renault announced the partnership last year. Alliance partner Nissan already assembles vehicles under its own joint venture with Dongfeng.

According to China Business News, the Renault-Dongfeng operation would have annual production capacity of 150,000 vehicles.

Dongfeng has well established car joint ventures with Honda and PSA Peugeot Citroën.

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