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After the Dongfeng Renault joint venture was approved by the National Development and Reform Commission, the two sides announced that they will formally sign a joint venture company on December 16. At this point, Dongfeng and Renault's ten-year twists and turns "affairs" finally came to fruition, and Renault took the last ferry to enter the Chinese market.
Dongfeng leads "strategic partnership"
According to the approved scheme, the Dongfeng Renault Joint Venture Company is registered in Wuhan, Hubei Province with a total investment of RMB 7,755.6 million. The joint venture plans to produce 150,000 multi-purpose passenger cars and supporting engines annually, and plans to develop new energy vehicles. According to reports, Dongfeng Renault will also set up a research and development center at the same time, and eventually form an R&D institution that has the ability to independently develop automobiles and meet international standards.
Dongfeng Renault achieved landing through the "backdoor" Sanjiang Renault. Dongfeng reorganized Sanjiang Renault Automobile Co., Ltd., and later changed Dongfeng Renault Automobile Co., Ltd. The shareholding ratio of Dongfeng Group and Renault's joint venture company will be 55% to 45%, and the proportion of joint ventures will be gradually reached 50% each.
Dongfeng Motor Group stated that it will establish a strategic partnership with Renault that uses capital as a link. The new joint venture project will help enhance the overall competitiveness of Dongfeng Motor Group, enhance brand value and technical capabilities, and enhance the interests of the Group. Dongfeng Group will use this to further pool global resources, accelerate the internationalization process, and achieve rapid development in the global automotive market.
The Dongfeng Renault Joint Venture Negotiations opened in 2003, during which time the project site selection divergences, assessments and other reasons repeatedly delayed. As Dongfeng has established Nissan as the largest domestic joint venture company, Renault has been seeking joint ventures with Dongfeng as part of the Renault-Nissan alliance. This matter has been delayed for many years. Renault, as a multinational auto giant, also missed the golden decade of the Chinese auto market, affecting its own globalization process.
According to Dongfeng sources, Renault will use this to strengthen the depth and breadth of its entry into the Chinese auto market, and thus consolidate and enhance its position in the international market. With the support of the Dongfeng Motor Group and Renault-Nissan Alliance's two major system resources, both shareholders will jointly promote the deep synergy between Dongfeng Renault's projects in R&D, procurement, manufacturing, marketing and other fields to form a latecomer advantage and seek rapid growth.
Renault's transition to mass in China
It is understood that the Dongfeng Renault plant has now begun construction, and the automaker will lay the foundation for the year. It is expected to be completed by the end of next year. Dongfeng Renault's first product is expected to make Renault the main SUV Kole proud. In addition, the Dongfeng Renault project finalized a total investment of 11 billion yuan, a plan to implement in two phases. Among them, an investment of 7.2 billion yuan in the first phase, the annual output of 150,000, the main production SUV and MPV models; to achieve profitability, the second phase will be expanded sedan models.
In terms of personnel structure, Dongfeng and Renault have also reached an initial agreement. The specific appointments are: Renault Global Vice President, Group General Manager Jacques Daniel will serve as the president of Dongfeng Renault. Hu Xindong, former Minister of the Department of Legal and Securities Affairs and Head of Capital Operations of the former Dongfeng Motor Corporation, served as vice president of the joint venture company.
In recent years, Renault has introduced a variety of car sales through imported vehicles. Currently, it has more than 100,000 units in China Huabao, which has become a market base for Dongfeng Renault. Renault also focuses on creating a brand name for “casual luxury†and seeks market space with high-end differentiation. But Renault will need to face the popular market again after it is made domestically.
Recently, Chen Guozhang, CEO of Renault China, said in an interview with Nanfang Daily reporter that Koleos is the main model of Renault China. From the perspective of profit, SUV models are also the most profitable models. "This year, Renault China's profit growth exceeds that of last year. Because of the success of the SUV model, Renault China still takes the SUV model as the future development direction." Next year, Renault China will launch a new SUV model, continuing the small displacement and compactness. The style of SUVs is also the main direction of Renault in China in the next few years. The first model to be introduced was the compact SUV, Captur, which shares the chassis with the new Cannon Cannon Clio.
Chen Guozhang also believes that Renault is conducting research, mainly focusing on how all car brands in the Chinese market have made popular brands from niche brands. Including Renault-made, how to develop a niche imported brand into the mainstream brand in the Chinese market. “The objects of our research include three German brands, two Korean brands, two French brands, and two Japanese brands, including Nissan.†He also said that Renault is also studying future brand positioning, brand strategy, dealer network, and marketing model. And so on should be how to adjust, especially the dealer network changes. “The profits of the distributors of imported brands are higher, and dealers can sell 500 vehicles a year, and they can have a good profit. For these 500 customers, dealers can provide detailed and thoughtful after-sales service for each owner. In the case of 1500 or 2,000 vehicles, these dealers may not be able to maintain a high degree of customer satisfaction. Therefore, we are also conducting in-depth research on this issue, so as to ensure the Renault brand higher customer satisfaction."