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Renault Beefs up Cooperation with Korean Suppliers in EV Market
Cooperation Expansion
Renault Beefs up Cooperation with Korean Suppliers in EV Market
  • By matthew
  • November 6, 2013, 08:35
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President Park Geun-hye test drives the electrical car Twizy at Renault’s electrical vehicle experience center in Paris on November 4.
President Park Geun-hye test drives the electrical car Twizy at Renault’s electrical vehicle experience center in Paris on November 4.

 

Renault is striving to increase its presence in the Korean market with its electric vehicles (EVs). It is planning to further strengthen its cooperation with Korean companies, such as LG Chem, to capitalize on President Park Geun-hye’s recent visit to its EV manufacturing facilities. 

During her visit to Europe she looked around the facilities in Paris, France on November 4 (local time). LG Chem is currently supplying its EV batteries to Renault. 

There, she herself drove the Twizy, a two-seat EV of Renault, while listening to Renault-Nissan Alliance Chairman and CEO Carlos Ghosn’s explanations. “The development of EVs is a good example of the creative economy, in which Korean companies’ battery technologies and Renault’s automobile technologies blend well with each other,” she remarked. 

Renault said in response, “We are going to sign a cooperation agreement with LG Chem for the joint development of next-generation EVs capable of driving up to 400km.” Although the two companies have worked together, this is the first time that a specific cooperation plan has been unveiled. “The EV sector will propose a new paradigm in the global automobile industry in tandem with the Korean government’s drive for a creative economy,” the chairman added. 

In the meantime, Renault Samsung released the SM3 Z.E. on November 1. The production volume of the Busan plant is expected to be raised down the road based on the collaboration between the automaker and component manufacturers. 

The Busan plant of Renault Samsung is planned to produce 80,000 units of the Nissan Rogue a year for export to the US market. The ratio of the Korea-made components is expected to go up from 60% to 75% between 2011 and 2013 as well.