Renault, Geely Invest $714 Million in Brazil After Tie-Up

Renault SA and China’s Geely are investing 3.8 billion reais ($714 million) in Brazil to develop new models together after the two automakers decided to join forces to better compete in South America’s largest car market.

Part of the funds will go to Geely’s new zero- and low-emissions platform that will be the basis for two new vehicles to be built from the second half of 2026, the companies said Tuesday. The remainder will be used to update an existing Renault model next year and launch a new one in 2027.