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According to the latest Qixinbao, Dongfeng Renault Automobile Co., Ltd. has officially changed its name to Dongfeng Motor (Wuhan) Co., Ltd., Renault Co., Ltd. has completely withdrawn from the ranks of shareholders and is 100% owned by Dongfeng Automobile Group Co., Ltd.

It means that Dongfeng Renault is officially history.

According to information, Dongfeng Renault Automobile Co., Ltd. is a joint venture vehicle production enterprise set up by Dongfeng Automobile Group Co., Ltd. and France Renault Automobile Co., Ltd. on the basis of restructuring Sanjiang Renault Automobile Co., Ltd., according to the proportion of equity at 50:50. On December 2, 2013, the Dongfeng Renault project was officially approved by the National Development and Reform Commission. The total investment in the first phase is about 7.76 billion RMB. The factory is located in the Huangjinkou Industrial Park of Wuhan Economic and technological Development Zone. The company has built an annual production capacity of 150000 vehicles, and the engine factory has built an annual production capacity of 150000 engines. At the same time, the R & D center has also been put into use to undertake the research and development of joint venture independent products and the introduction of new energy vehicle products.

Due to poor management, Dongfeng Renault became the first Sino-foreign joint venture car company to collapse in 2020. On April 14, 2020, both shareholders of Dongfeng Renault announced that the joint venture company had officially ceased operation, Dongfeng Renault was delisted and reorganized, and Renault transferred its 50% stake in Dongfeng Renault to Dongfeng Automobile Group. Dongfeng Renault stopped the business activities related to the Renault brand.

Data show that Dongfeng Renault reached a sales peak of 72000 vehicles in 2017 and has been declining since then, with sales of only 18500 vehicles in 2019, down 63 per cent from a year earlier. Affected by the epidemic, the cumulative sales of Dongfeng Renault from January to March 2020 were only 663 vehicles, down 88.65 percent from the same period last year. Dongfeng Renault domestic models are respectively Correa, Coreao, Corey and Eno, because Dongfeng Renault has stopped the relevant business activities of the Renault brand, so the above models also stopped production immediately.

"Renault's withdrawal from the Chinese (fuel passenger car) market reflects that China's automobile market has entered a phase of elimination of the fittest, warning other joint venture brands to make greater product localization investment and technological innovation," said Cui Dongshu, secretary-general of the Federation of passengers' Association. at the same time, we also want our own brands to strive to become bigger and stronger to promote the stronger development of the automobile industry. "

After the full acquisition, it was changed from Dongfeng Renault Automobile Co., Ltd. to Dongfeng Automobile (Wuhan) Co., Ltd., it is said that Dongfeng upgraded the former Dongfeng Renault plant and turned it into a Dongfeng intelligent manufacturing base.

Renault did not withdraw completely from the Chinese market, only from the field of fuel passenger vehicles, while the new energy and light commercial vehicles continued to operate. In the field of electric vehicles, Renault participates in easy Jet New Energy vehicle Co., Ltd. And Jiangling Group New Energy vehicle Co., Ltd.; in the field of light commercial vehicles, there is Huachen Renault Golden Cup Automobile Co., Ltd.

In addition, the delisting of Dongfeng Renault can also find out the predicament of the development of legal brands in China. Changan PSA (Changan Peugeot Citroen Motor Co., Ltd.) has officially changed its name to Shenzhen Baoneng Automobile Co., Ltd. Another Sino-French joint venture, Dragon Motors, also has operational problems, with cumulative sales of only 26782 cars from January to July this year, a sharp drop of 64 per cent from the same period last year. From January to July 2020, the market share of French brands in China has fallen to 0.3 per cent, according to the China Automobile Association.

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