Beijing — Nissan Motor and its alliance partner Renault are setting up a new joint venture in China with Dongfeng Motor Group to design and build electric cars, joining a list of global car makers aiming to make such vehicles in China. The companies are attempting to tap into a boom for such cleaner "new energy" vehicles in the world’s biggest car market and gearing up to meet its anticipated stringent plug-in car quotas. Ford announced earlier this month that it was exploring setting up a joint venture with car maker Anhui Zotye Automobile to build electric vehicles in China under a new brand. Tesla, Daimler and General Motors have already announced plans for making electric vehicles in China, which wants electric and plug-in hybrid cars to make up at least a fifth of the country’s car sales by 2025. The new joint venture, eGT New Energy Automotive, will be 25% owned by Nissan and Renault with Dongfeng owning 50%, Nissan and Renault said in a statement on Tuesday, adding that eGT w...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.