Geely Auto and Renault reach cooperation agreement

Geely Automobile announced today that it has signed a cooperation agreement with Renault, and the two parties will carry out in-depth cooperation in the Brazilian market. Geely will inject capital into the joint venture through its wholly-owned subsidiary in exchange for corresponding shares. After the transaction is completed, Renault will hold 73.57% of the shares of the joint venture, while Geely will hold 21.29%. This cooperation will help Geely expand in the Brazilian market and take advantage of Renault's local distribution network and after-sales service system.