SEOUL – Renault’s South Korean unit plans to add infrastructure at its plant in the southeastern city of Busan to build electric vehicles, the city’s government said.
The automaker aims to produce 200,000 EVs a year at its Busan facilities, a statement issued by the city cited Renault Group Executive Vice President Guido Haak as saying.
Renault has been making and selling cars in South Korea, largely based on European models, for over two decades via Renault-Samsung Motors and can build 300,000 vehicles a year in its factory in Busan.
The automaker is partnering with China’s Geely to convert the Busan factory into an export hub for mid- to large-size vehicles.
Renault and Geely signed an agreement last year to collaborate on building new models in Busan, with production forecast to begin in 2024.
The investment plan was unveiled when Haak met with Busan Mayor Park Heong-joon during a visit to France this week, where Haak called for South Korea’s support to turn the Busan plant into its future manufacturing hub, Park’s office said.
It was not immediately clear how much Renault planned to invest to build the EV production facilities.
Renault Korea did not have an immediate comment.
Hyundai Motor said in May it will invest around 2 trillion won ($1.54 billion) in Ulsan, South Korea, to build a designated EV factory.
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