 |
|
Renault CEO Luca de Meo will hold a press conference in Seoul on Tuesday. (Renault Korea Motors) |
Groupe Renault plans to invest hundreds of millions of euros over the next six years to make South Korea an export hub for mid- to heavy-duty vehicles, the company’s CEO said Tuesday in Seoul.
“We want to make South Korea a major export hub for the heavy-duty (-vehicle) segment. It’s also a great way. There’s a lot to learn here,” Luca de Meo said at a press conference during his first visit to South Korea since taking office in July 2020.
He explained that the investment plan became feasible thanks to Renault Korea’s successful restructuring efforts and the group’s partnership with Chinese automaker Geely.
In May, Renault Korea announced that Geely, a subsidiary of Zhejiang Geely Holding Group, would acquire a 34.02% stake, making it the second largest shareholder of the Korean division of the French automaker.
“Renault Korea plans to work with Geely to create a D-segment hybrid vehicle that will hit the market in 2024. We will use the hybrid platform brought from Geely to see how it will perform in the Korean market first. Of course, when we see demand growing, we need to respond by introducing EVs.
Regarding further cooperation with South Korean companies, Renault’s chief said it would strengthen partnerships with South Korean battery makers.
“Meeting with the top leaders of Korean battery companies is one of the reasons I came to Seoul. In Korea, we are looking for free (additional/additional) batteries to what we already have in Europe. ” he said.
South Korean battery maker LG Energy Solution currently supplies batteries for Renault’s EV models such as the Megane E-Tech and Zoe.
The Renault Group has also released a design concept clip for a hybrid vehicle that is being developed by Renault Korea and will be launched in the domestic market in 2025. The clip hinted that the car is a coupe SUV.
Hong Yoo (yoohong@heraldcorp.com)
