Renault betting big on Chinese auto market
French car maker teaming up with Alibaba to boost sales with nine new models, including two fully electric vehicles
French automobile manufacturing giant Renault said it will deepen its cooperation with Alibaba to promote car sales in China, Yicai.com reported.
Francois Provost, director of Renault’s Asia Pacific business, said Chinese consumers will be able to purchase their car on Tmall.com, one of Alibaba’s e-commerce platform.
The car maker said its goal is to increase sales in China by five times over the next five years, and to sell 550,000 vehicles in China by 2022.
The company’s China strategy is part of its target of a 40% increase in global revenue growth.
Meanwhile, a team of 600 engineers will be established in China to produce nine new models, of which three will be pure electric vehicles.