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(Bloomberg) -- Renault SA’s partnership with Geely may be a more natural one than its longtime alliance with Nissan Motor Co., Chief Executive Officer Luca de Meo said.
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The Chinese automaking group that controls car brands including Volvo and Lotus is an excellent company that works very fast, de Meo said Thursday.
“There’s lots of things we can do together,” he said during a call discussing Renault earnings with analysts. The partnership is “probably more natural than the different views that Renault and Nissan had historically.”
Renault and Geely this week announced plans to jointly produce and sell electric and low-emissions vehicles in Brazil. They’re already working together in South Korea as well as on combustion-engine and hybrid powertrains via their Horse venture.
Owned by Chinese billionaire Li Shufu, Geely controls automakers including Volvo Car AB and Polestar Automotive Holding UK Plc. Li is one of the biggest shareholders of Germany’s Mercedes-Benz Group AG.
Renault has been partially unwinding its alliance with Nissan amid mounting rivalries and mutual suspicion, but still owns 36% in the Japanese automaker. Renault’s partnership with Geely doesn’t need shareholding ties and will remain flexible, de Meo said.
“I see a lot of similarities in the way the two companies see the future of automotive,” de Meo said. “There will be other things coming.”
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