Groupe Renault and JMCG announce an agreement in EV on the fast-growing Chinese market, which represents today 50% of the worldwide EV market.
Groupe Renault will take a significant part of JMEV, a subsidiary of JMCG and one of the main EV player in China. Groupe Renault will thus complete its offering, increase its presence in the country and further support JMEV development.
Since 2015 JMCG has successfully established the company JMEV in Nanchang (Jiangxi province). JMEV has produced and sold 38,000 electric cars in 2017. Thanks to its dynamic teams and the strong growth of new energy vehicles in the country, JMEV expects to sell 50,000 electric cars in 2018.
This agreement will be reviewed by the relevant authorities in China during first half 2019. JMCG and Groupe Renault expect to close the transaction in 2019. At closing, they intend to explain in more details their cooperation at an event in Nanchang.