Renminbi Appreciates Renault Nissan Expands Production at Korean Factory

Gasgoo Motors International reported that Carlos Ghosn, CEO of the Renault-Nissan Automobile Alliance, recently stated that as the yen continues to strengthen, Renault Nissan plans to expand production at its Korean plant to reduce its dependence on Japanese factory production.

Ghosn said: "With the continuous appreciation of the yen and the renminbi, companies with factories in South Korea will have certain advantages." After exiting bid for South Korea's Ssangyong Motor, Renault announced on August 10 that it would expand in other ways in South Asia. business.

Renault and Samsung’s 80% stake in Renault Samsung Motors Co., a South Korean joint venture, is held by Renault. Renault’s Samsung Busan plant exports approximately 50,000 Nissan Sunny vehicles each year to the Middle East.

Renault’s Samsung Busan plant has an annual production capacity of 240,000 cars. Renault will expand production of the "Latitude" version of the SM5 four-seater at the plant and export it to the Middle East.