According to a report by Reuters on July 5, Renault and Brilliance China Automotive Holding Group signed a framework cooperation agreement. Renault will acquire a 49% stake in Shenyang Brilliance Jinbei Automobile Co., Ltd. After the announcement, Renault's share price rose 0.2% in early trading, outperforming the French blue-chip CAC40 index (down 0.1%) and the Stoke Europe 600 auto stock index.
France's Renault will acquire a 49% equity interest in Shenyang Brilliance Jinbei Automobile Co., Ltd. to promote the sale of light commercial vehicles in China. In addition, another 51% of the shares are owned by Brilliance China, and the Brilliance Jinbei will also become a joint venture.
Renault President and CEO Carlos Ghosn said in a statement: "As the world's top car company, Renault is entering the Chinese light commercial vehicle market, we believe that the Chinese market with annual sales of more than 3 million vehicles Very potential."
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