The Renault-Nissan Alliance has teamed up with the Dongfeng Motor Group to form a new joint venture called eGT New Energy Automotive.
Created to allow the companies to develop and sell electric vehicles in China, the joint venture promises to "harness the full potential of the Renault-Nissan Alliance" which is already a leader in electric vehicles thanks to models such as the Nissan Leaf and Renault Zoe.
Despite just being formed, eGT is already hard at work developing a new electric vehicle that will come equipped with "intelligent interconnectivity." Little is known about the model but the companies confirmed it will ride on Renault-Nissan's A-segment SUV platform and benefit from the company's global leadership in EV technologies.
Under the terms of the deal, Renault and Nissan will both have a 25 percent stake in eGT while the remaining 50 percent will be owned by Dongfeng. eGT will be based in Shiyan and its first electric vehicle will be built at a Dongfeng plant which is located in the city. Production is slated to begin in 2019 and the plant could build up to 120,000 units annually.
In a statement, Renault-Nissan CEO Carlos Ghosn said “The establishment of the new joint venture with Dongfeng confirms our common commitment to develop competitive electric vehicles for the Chinese market. We are confident to meet the expectations of the Chinese customers and to strengthen our global electric vehicle leadership position.”
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