Titanium Media APP reported on May 10 that Geely Automobile Holdings (0175.HK) signed an agreement with Renault Group, and Geely Automobile will subscribe for 34.02% of Renault South Korea’s increased capital and shares. The cooperation is yet to be approved by relevant departments. Groupe Renault will remain the major shareholder, and Renault Korea will continue to be consolidated by Groupe Renault. On January 21, 2022, Geely Holding Group and Renault Group have signed a framework agreement to announce the launch of new hybrid technologies and models to the Korean market. The new car will be produced at Renault Samsung's plant in Busan, South Korea, with mass production expected in 2024. This cooperation will further strengthen the cooperation between Renault Group and Geely Automobile.
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