China approves Renault-Dongfeng joint venture

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Credits: Nathan Morgan
5 Dec, 2013 11:11am Iain Reid

Chinese Government approval of Dongfeng partnership means Renault can build cars in China

The Chinese authorities have approved a proposed joint venture between Renault and Dongfeng, one of the biggest car makers in China.

The deal is said to be worth around 7.76 billion yuan (around £778 million) where Dongfeng Renault Automotive will make around 150,000 vehicles and engines a year.

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Under Chinese law, foreign car manufacturers looking to build cars in China must do so with a Chinese partner.

A joint-statement from the two car makers said:"Dongfeng Motor and Renault welcome the approval from the Chinese authorities for their joint venture.

"Renault, already present on the imported vehicles market in China, is partnering with a heavyweight of the Chinese automotive industry. This alliance will allow Renault to deploy its ambitious strategy in the world's largest automotive market."