SEOUL, Jan. 3 (Korea Bizwire) –In 2023, Renault Korea Motors, the South Korean unit of Renault S.A., faced significant challenges as its sales plummeted by over 38 percent compared to the previous year. The company reported selling 104,276 vehicles during the year, citing weak demand for its models both domestically and internationally. Domestic sales for [...]
SEOUL, Aug. 31 (Korea Bizwire) — Renault Korea Motors, the South Korean unit of Renault S.A., said Thursday it will focus on gasoline hybrid models to revive sales, while making preparations for the production of all-electric models. Renault Korea currently sells one gasoline hybrid model, the hybrid electric version of the XM3 compact SUV. Its [...]
SEOUL, June 22 (Korea Bizwire) — Renault Korea Motors, the South Korean unit of Renault S.A., said Thursday it is in talks with the South Korean government to manufacture electric vehicles (EVs) at its sole Busan plant amid carmakers’ accelerating electrification push. Busan Mayor Park Heong-joon met with Renault Executive Vice President Guido Haak in [...]
BUSAN, May 18 (Korea Bizwire) — Renault Korea Motors, the South Korean unit of Renault S.A., has said it is developing a new SUV in a joint project with a Chinese automaker initially for a domestic launch next year. Renault Korea said it will collaborate with Geely Automobile Holdings, China’s largest privately owned automotive group, [...]
SEOUL, May 2 (Korea Bizwire) — Renault Korea Motors is running a ‘Create Your SM6′ campaign until May 26, using AI technology to create personalized SM6 images and turning them into NFTs. The campaign is centered on the INSPIRE trim of the all-new SM6 TCe 300, which elevates the design and performance of the SM6 [...]
BUSAN, April 22 (Korea Bizwire) — Renault Korea’s strong sales of the popular XM3 led to the company’s return to profitability last year. According to Renault Korea’s announcement on Saturday, the company achieved sales of 4.86 trillion won (US$3.65 billion), operating profit of 184.8 billion won, and net profit of 125.5 billion won in [...]
SEOUL, Feb. 9 (Korea Bizwire) — Renault Korea Motors and SsangYong Motor Co. are struggling to ship vehicles abroad due to a shortage of car carriers. At Renault Korea’s Busan factory yard, thousands of cars are piled up, waiting for shipment. Car carriers from Europe are shipping the cars twice a month but the number [...]
SEOUL, Nov. 14 (Korea Bizwire) — The Korean units of three foreign automakers — GM Korea Co., Renault Korea Motors Co. and SsangYong Motor Co. — have a negligible presence in the electric vehicle (EV) market. Their combined domestic sales stood at 133,890 units in the January to October period of this year, down 5.2 [...]
SEOUL, May 10 (Korea Bizwire) — Renault Korea Motors said Tuesday an affiliate of China’s Geely Holding Group will invest in the company as part of their parent firms’ agreement signed early this year to develop an environment friendly vehicle. Geely Automobile Holdings, China’s largest privately-owned automotive group, will acquire a 34.02 percent stake in [...]