By Norihiko Shirouzu
BEIJING (Reuters) – Geely Holding and France’s Renault are likely to soon announce a deal to jointly produce the Chinese automaker’s hybrid vehicles in South Korea and look at possibly exporting cars duty-free to the United States, three people familiar with the matter said.
The joint venture (JV) deal, in the works since early this year and which also involves joint operations in China, will allow Renault to shore up its struggling business in South Korea and more broadly its presence in Asia.
Renault, which exited China last year, will gain a way back into the world’s biggest auto market by forming a new, plug-in hybrid-focused brand that will be managed jointly by it and Geely, the sources said.
Geely is expected to work with Renault to come up with a new lineup of green cars that use Geely’s so-called Compact Modular Architecture (CMA), a midsize vehicle underbody structure shared by Geely and Volvo, as well as its supply chains and manufacturing facilities in China, the sources added.
Renault will focus on vehicle design, sales and marketing for its newly…
