French carmaker Renault, Brilliance China Automotive Holdings and the municipal government of northeast China's Shenyang have signed an agreement to accelerate the growth of light commercial vehicles (LCVs) in the Chinese market.
The agreement came after Renault and Brilliance Auto formed a joint venture to manufacture and sell LCVs earlier this year.
According to the agreement, Renault and Brilliance Auto will be committed to making the joint venture a leader in China's LCV market.
Renault will provide seven LCV models, including three electric ones, for the joint venture within the next three years, said the agreement.
The two sides have also agreed to establish a research and development center for LCVs in Shenyang, capital of Liaoning Province.
Earlier this month, German carmaker BMW announced that it would extend the contract term of the joint venture BMW Brilliance Automotive (BBA) in the city.
BMW will also invest more than 3 billion euros (about 3.5 billion U.S. dollars) in new and existing plant structures in Shenyang over the coming years.
The agreement came after Renault and Brilliance Auto formed a joint venture to manufacture and sell LCVs earlier this year.
According to the agreement, Renault and Brilliance Auto will be committed to making the joint venture a leader in China's LCV market.
Renault will provide seven LCV models, including three electric ones, for the joint venture within the next three years, said the agreement.
The two sides have also agreed to establish a research and development center for LCVs in Shenyang, capital of Liaoning Province.
Earlier this month, German carmaker BMW announced that it would extend the contract term of the joint venture BMW Brilliance Automotive (BBA) in the city.
BMW will also invest more than 3 billion euros (about 3.5 billion U.S. dollars) in new and existing plant structures in Shenyang over the coming years.
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