Industry data show that Geely exported nearly 300 000 vehicles in the first three quarters of this year, already 71 % of its full-year target of 423 000 units.
On November 3, Zhejiang Geely Holding Group and Geely Automobile Holdings Limited (collectively “Geely”) and Renault Group formally signed the definitive agreement for their strategic partnership in Brazil.
The two parties will deepen their collaboration by having Renault do Brasil produce and sell new-energy vehicles for both Geely and Renault.
The deal marks the next milestone after the Geely-Renault Korea vehicle joint-venture and the creation of Horse Powertrain, the fully merged global powertrain company.
Under the agreement, Geely will acquire a 26.4 % stake in Renault do Brasil; Renault Group remains the controlling shareholder and will continue to consolidate the company. As a minority shareholder, Geely gains shared access to Renault do Brasil’s plant capacity and retail network, accelerating its expansion in the Latin American market.
Renault do Brasil will also act as the national distributor for Geely’s new-energy vehicles: the battery-electric SUV EX5 will be sold through Renault’s entire dealer network in Brazil.
For Renault, the partnership brings advanced electrification technology that broadens its product line and answers Brazil’s growing demand for electric mobility. In addition to Renault models, the Ayrton Senna Industrial Complex in southern Brazil will now build Geely-brand vehicles, lifting plant utilization and sharpening the site’s competitiveness.
Brazil—South America’s largest and the world’s sixth-largest auto market—posted robust new-vehicle registrations in 2024, making it a prime target for global OEMs. By teaming up with Renault, Geely secures local production capacity, sidesteps steep import tariffs and strengthens its competitive position.
Industry data show that Geely exported nearly 300 000 vehicles in the first three quarters of this year, already 71 % of its full-year target of 423 000 units.
Discover more from ChinaEVHome
Subscribe to get the latest posts sent to your email.
