Geely completed the acquisition of a 26.4% stake in Renault do Brasil from Renault Group.

Geely, an investment holding company principally engaged in the production and sales of automobiles, completed the acquisition of a 26.4% stake in Renault do Brasil from Renault Group, a French multinational corporation and automobile manufacturer. Financial terms were not disclosed. “The partnership we are announcing today with Geely in Brazil marks a decisive step forward in our international strategy. It establishes an agile cooperation founded on industrial excellence and technological leadership. Once again, combining our strengths will make us more competitive, more innovative, and more responsive in a fast-evolving automotive market," François Provost, Renault Group CEO.