BOULOGNE-BILLANCOURT (dpa-AFX) - Renault (RNT.L, RNSDF.PK, RNSDY.PK, RNO.PA, RNL.DE), a French automotive major, said on Monday that it has inked a deal with Zhejiang Geely Holding Group, to sell a 26.4% stake in Renault do Brasil.
As a minority shareholder, Geely will have access to Renault do Brasil's industrial and commercial resources, allowing it to accelerate its expansion in the region's automotive market.
Renault do Brasil will make Geely Auto-branded vehicles alongside Renault vehicles at the Ayrton Senna plant in São José dos Pinhais, Paraná.
Renault will utilize Geely's GEA new energy architecture to extend its line-up with zero-and-low-emission vehicles for the Brazilian market.
Renault do Brasil will also distribute Geely Auto's portfolio of zero-and-low-emission vehicles in Brazil.
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