Geely Automobile's (HKG:0175) substantial shareholder, Zhejiang Geely Holding Group, will expand its cooperation with Renault unit Renault S.A.S. in the development and production of zero and low emission vehicles, a Tuesday filing with the Hong Kong bourse said.
To facilitate this, Zhejiang Geely Holding Group will invest in and become a minority stakeholder of Renault do Brasil in order to gain access to localized production, service network, and channel resources.
Geely Automobile is also considering becoming involved with this transaction given the potential of the collaboration and the Latin America market.
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