“We will make Renault Korea a production hub for mid-to-large premium vehicles,” said Luca de Meo, Chairman of the Renault Group.
Renault Korea held a press conference with Luca de Meo in Gangnam, Seoul, on the evening of the 11th. In his address to journalists, Luca stated, “Renault views Korea as an important market and will launch good products for the Korean market.”
The first model to be launched is a hybrid mid-sized SUV produced in collaboration with Geely. To facilitate joint product production with Geely, Renault Korea has transferred 34% of its shares to Geely. Luca explained, “The 34% share transfer of Renault Korea reflects our deep involvement for the success of joint products with our partner.”
The joint model will utilize the CMA platform applied to the Volvo XC40 and is scheduled for release in 2024. The vehicle’s exterior design is currently being developed by Renault Korea. The Renault Group is planning to invest hundreds of millions of euros over six years into the Renault Korea Busan plant for the production of joint products with Geely. There are high expectations from headquarters regarding the new products from Renault Korea.
Through this initiative, Luca aims to establish the Renault Korea Busan plant as a new production hub for mid-to-large vehicles.
Luca emphasized, “Renault Korea has created successful models like the SM5 and XM3 over the past 20 years in a rapidly changing Korean market. We will focus more on profitable sales volumes and prioritize the production of mid-to-large models to make Renault’s Busan plant a center for mid-to-large premium vehicles.”
Byung-Jin Lee (daedusj@autodiary.kr)