Renault Teases First Model Based on Geely-Volvo Platform

Renault and Geely Automobile have signed a memorandum of understanding on a comprehensive agreement to jointly introduce Renault-branded hybrid vehicles in Asia in 2021, using technology provided by Geely and its Volvo brand.

Under the agreement, the vehicles will be developed and produced in Korea by Renault's local subsidiary, Renault Korea Motors, and will be both sold in Korea and exported, with Renault contracted to invest over 900 million euros (about $875 million) in the project over the next six years

These vehicles will be sold in South Korea and exported to other countries.

The first of these cars was teased this week and confirmed to go into production in 2024. It is a coupe-like crossover based on a platform developed by Geely and Volvo, believed to be the compact CMA platform seen in Volvo's XC40 and several models under Geely's Lynk & Co. brand.

The Renault-Geely deal could also lead to Renault-branded hybrid vehicles being produced in China using production capacity supplied by Geely. This would come after Renault dissolves its joint venture with China's Dongfeng in 2020.

While there are no plans to bring Renault to the U.S., Renault may also produce Link and Company-branded vehicles and other products for Geely in South Korea, which, according to reports, could be exported to the U.S. tariff-free under a free trade agreement between the U.S. and South Korea.