SHENYANG, China, Jan. 10, 2018 /PRNewswire/ -- China's Brilliance Auto Group recently entered a deal with the Renault Group to set up the Renault Brilliance Jinbei Automotive Co., Ltd., a joint venture to manufacture light commercial vehicles (LCVs) under the three brands of Jinbei, Renault and Huasong, with an aim to sell 150,000 such vehicles a year by 2022.
It took Brilliance Auto Group only one year to successfully partner with the Renault Group and establish a new mode of cooperation: for the first time in the new era of Chinese automobile industry, the same joint venture will design and produce vehicles of both foreign brands and domestic brands, which will be a world-class platform for developing commercial vehicles.
Brilliance Auto Group Chairman Qi Yumin said that in the past, such a joint venture used to operate a foreign brand and the Chinese side could only use the profits to support the development of its own brand. Now, through the joint venture, the three brands, namely China's Jinbei and Huasong, as well as France's Renault, can advance side by side, which is conducive to a rapid development of China's own brands.
It is worth mentioning that the cooperation between Brilliance and Renault will bring together advanced technologies and experiences from both sides in their respective fields and the two companies will both contribute products and technologies to the joint business. Brilliance can take full advantage of the platforms, technologies and advanced management concepts introduced by Renault, and realize its own transformation and upgrading. This will add a heavy weight to Brilliance's presence in overseas markets which it has tapped into for many years.
It is understood that Brilliance is among the first batch of Chinese car-makers which adopted a plan to march into overseas markets. Up to now, Brilliance's overseas distribution network has covered more than 100 countries and regions in Africa, Central and South America and Asia Pacific, and the total number of its dealerships reached nearly 400. With the sound implementation of the Belt and Road Initiative, Brilliance aims to design a more sustainable strategy to open up overseas markets for its own brands in the future.
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SOURCE Brilliance Auto Group