Not long ago, Mayor of Wuhan Tang Liangzhi met with senior Wenzhou Dongfeng of Dongfeng Motor Company and senior manager Nakamura Katzon of Renault Motors in France. He confirmed that the total investment of Dongfeng Renault Project was 11 billion yuan, which was planned once and implemented in two phases. The first phase of investment is 7.2 billion yuan, and the annual output is 150,000, mainly producing SUVs and MPV models; after the profit is realized, the second phase will expand the sedan models.
At present, Dongfeng Renault's project base Wuhan Goldenport Industrial Park has completed more than 2,200 acres of demolition and retreat work. It is expected that Dongfeng Renault's core area can be delivered in March.
Tang Liangzhi expressed that he hopes that Dongfeng and Renault will implement the project in a timely manner according to the agreed timeline, realize profitability as soon as possible, and carry out the second phase of the project. In response, Renault also responded by saying that it will implement the project according to the time plan and implement the second phase project as soon as possible.
Dongfeng Renault's joint venture "Love" for eight years finally surfaced. According to Dongfeng insiders, the joint venture project has reached a framework agreement, but has not signed a contract, is still waiting for the approval of the National Development and Reform Commission, is expected to be approved this month. Dongfeng’s Minister of Legal and Securities Affairs and Head of Capital Operations, Hu Xindong, will become the general manager of the joint venture company in the future.
Judging from the intensified implementation of the project, Dongfeng Renault’s joint venture is proceeding according to plan. For Renault who is late to China, this will also be a new beginning.
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