Renault to partially exit Chinese market

Renault will transfer its shares in Dongfeng Renault Automotive Corporation (DARC) to its joint venture partner Dongfeng Motor Corporation and exit the Chinese market.

The carmaker will also cease all brand-related activities, but will continue to provide after-sales service for its 3 lakh customers through Renault dealers.

Renault and Dongfeng will continue to work with Nissan on new generation engines including the supply of components to DARC and diesel license to Dongfeng Automobile Co. Ltd.

Renault's LCV business operated through Renault Brilliance Jinbei Automotive Co. Ltd. and the EV business - a joint venture between eGT New Energy Automotive Co., Ltd (eGT) and Jiangxi Jiangling Group Electric Vehicle Co. Ltd (JMEV) will continue to operate.