Renault-Nissan have inked a joint venture deal with the Dongfeng Motor Group Co., Ltd., to co-develop and sell electric vehicles (EVs) in China.
However, the firms are being tight-lipped about where batteries for the new enterprise – eGT New Energy Automotive Co., Ltd., (eGT) – will be produced.
There was no mention of battery technology or supply plans in the 29 August joint venture announcement— and a Renault-Nissan spokesperson declined BBB’s invitation to give details.
The joint venture will be based in Shiyan, in central China’s Hubei Province, where Dongfeng, the country’s second-biggest carmaker, has a production plant. Renault and Nissan will each own 25% of eGT to Dongfeng’s 50%.
Last month, Chinese lithium battery manufacturer Zhejiang Unifull Industrial Fibre confirmed it was investing up to $100 million to join the takeover of Nissan’s battery business, the Automotive Energy Supply Corporation, by Chinese private equity firm GSR Capital Advisors.
Unifull said a framework agreement with GSR would give Unifull “priority” in taking part in any future Nissan battery projects in mainland China.
Earlier this year, Chinese battery makers were reportedly urged to redouble their efforts to keep pace with demand for products, driven by the “rapidly growing” domestic new energy vehicles industry.
According to China’s Sina Finance, the Ministry of Industry and Information Technology warned called for closer cooperation between the battery industry and vehicle makers.
