Arab Today, arab today dongfeng renault to set up 18bn jv
Last Updated : GMT 12:15:14
Arab Today, arab today
Arab Today, arab today

Dongfeng, Renault to set up $1.8bn JV

Arab Today, arab today

Arab Today, arab today Dongfeng, Renault to set up $1.8bn JV

Shanghai - AFP

Ambitious Chinese automaker Dongfeng Motor and France\'s Renault may sign a deal this month for an 11 billion yuan ($1.8 billion) joint venture after a decade of talks, a report said. The project, to be restructured from an existing venture between Renault and China Sanjiang Space Group, was approved by state officials in May, a source told the China Business News paper. Dongfeng, China\'s second biggest automaker, has previously been reported to be negotiating to buy a stake in another French car firm, PSA Peugeot Citroen. The Sanjiang operation was set up in 1993 to produce the Traffic minibus, but production stopped in 2003, and Dongfeng and Renault have been in talks since then. Dongfeng acquired a 55 percent stake in the Sanjiang-Renault project in June and the new joint venture will be based in the central city of Wuhan, said the source. The Wuhan project is expected to start production of mainly sports utility vehicles and multi-purpose vehicles in 2014, and will have a first-phase capacity of 150,000 units a year, according to the paper. A Dongfeng spokesman told AFP it was \"actively pushing forward the Dongfeng-Renault joint venture project\". Renault in China declined to comment. Earlier this month, the 21st Century Business Herald said that Thierry Peugeot, chairman of Peugeot\'s supervisory board, had \"pinned his hopes\" on Dongfeng buying a stake in the troubled French automaker. But company officials in China declined to comment on the reports. Auto sales in China, the world\'s largest car market, rose 4.3 percent year-on-year in 2012 to 19.31 million units, hit by limits on numbers imposed by some cities to ease traffic congestion and tackle pollution. But a report by the consultancy McKinsey predicted last year that the Chinese passenger car market would grow eight percent annually to reach 22 million units in 2020.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dongfeng renault to set up 18bn jv Arab Today, arab today dongfeng renault to set up 18bn jv

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dongfeng renault to set up 18bn jv Arab Today, arab today dongfeng renault to set up 18bn jv

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday