Renault seeks Dongfeng deal to make300,000 cars yearly in China

29th June 2004, Comments 0 comments

PARIS, June 28 (AFP) - The French automaker Renault said Monday it wanted to form a joint venture with the Chinese company Dongfeng to produce 300,000 cars a year in China from 2006.

PARIS, June 28 (AFP) - The French automaker Renault said Monday it wanted to form a joint venture with the Chinese company Dongfeng to produce 300,000 cars a year in China from 2006.

A Renault statement said the project was "currently embodied in a proposal that will be finalized in accord with new Chinese automobile legislation and then submitted to the Chinese central government."

It would be Renault's first auto manufacturing venture in China, where until now it has specialized in turning out a small number of light-weight vans.

Dongfeng already has a partnership with Nissan of Japan, which is 44.4 percent owned by Renault.

Renault and Dongfeng would each have a 50 percent stake in the proposed enterprise in China, which would supply the Chinese market with the latest Renault models, the French group said.

© AFP

Subject: French news

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