Groupe Renault and Brilliance China Automotive Holdings Limited (Brilliance) have signed a Strategic Cooperation agreement with Chinese officials from Liaoning Province to accelerate growth of light commercial vehicles (LCV) in China.
This follows the move in January by the two companies to form Renault-Brilliance-Jinbei Automotive Co., Ltd., a joint venture to manufacture and sell light commercial vehicles.
Renault also confirmed plans for three new electric light commercial vehicles (LCV) for China within two years.
The joint venture sells Jinbei, Renault and Huasong brands and has the goal of achieving 150,000 sales annually by 2022, and an acceleration of electrifying powertrains.
Renault-Brilliance-Jinbei Automotive Co., Ltd. is headquartered and has manufacturing operations in the Dadong District of Shenyang and is producing in three key segments—MPVs, medium vans and heavy vans and will soon add electric LCV models to its range.
Liaoning Province is one of China’s new automobile industrial hubs with over 120 auto & auto-parts manufacturers and is the largest provincial economy of Northeast China.
The Chinese LCV market forecast is for 3 million units per year. Increasing urbanisation and an e-commerce explosion make new and optimised logistics and inner-city transportation schemes necessary for both people and goods.
Urban last-mile delivery is expected to grow by 125% till 2030. China is also the biggest, fastest growing EV-market in the world.