Shanghai (Gasgoo)- On November 3, 2025, Geely Holding Group and Geely Automobile Holdings Limited (collectively referred to as "Geely") officially signed a final strategic cooperation agreement with Renault Group to strengthen their partnership in Brazil. Under the new deal, both parties will jointly produce and sell new energy vehicles (NEVs) through Renault do Brasil, Renault's local subsidiary.
Under the agreement, Geely will acquire a 26.4% stake in Renault do Brasil, while Renault Group will remain the majority shareholder and continue to consolidate the unit's financial results. The partnership allows Geely to leverage Renault's manufacturing facilities and extensive dealer network in Brazil, providing a strong foothold for its expansion in Latin America. Renault do Brasil will also serve as Geely's distributor for NEV models in Brazil, offering new growth opportunities in vehicle sales, financing, and after-sales services. Geely's EX5 electric SUV will be marketed nationwide through Renault's sales network.
The collaboration will enable Renault to broaden its product lineup using Geely's advanced electrification technologies, helping it respond to Brazil's growing demand for EVs. Renault's Ayrton Senna Industrial Complex in southern Brazil will produce both Renault and Geely vehicles, improving production efficiency and strengthening the plant's competitiveness in the region.
François Provost, CEO of Renault Group, described the deal as "a decisive step forward" in Renault's international strategy. "This partnership, built on complementary industrial strengths and technological expertise, creates a highly flexible and efficient cooperation model," Provost said. "By joining forces, we can enhance our competitiveness, innovation, and agility in a rapidly evolving global market."
Eric Li (Li Shufu), Chairman of Geely Holding Group, hailed the agreement as another major milestone in the two companies' ongoing strategic alliance, following their joint venture in South Korea and the formation of Horse Powertrain Limited, a global powertrain company. "Together, Geely and Renault will continue to explore new markets and opportunities through cross-continental cooperation and strategic synergy," Li said. "Our goal is to achieve scale efficiency and bring the best products, optimized costs, and high-quality services to customers worldwide, creating an exceptional ownership experience."
