Renault announced on Friday the signing of a collaboration agreement with the Chinese automotive group Geely with a view to cooperation in South Korea.
Under the terms of the partnership, Renault-Samsung Motors (RSM) will produce thermal and hybrid electric vehicles at its Busan plant, intended for the local market and for export.
These new vehicles will be based on Geely's Compact Modular Architecture (AMC), designed by its research and development (R&D) center in Sweden.
Renault specifies that the agreement is part of the 'Renaulution' plan which aims to boost the Renault-Samsung Motors range.
Production of the new vehicles is scheduled for 2024.