Renault talks to China's Li Auto and Xiaomi on tech collaboration
Reuters
Published Apr 26, 2024 15:14
PARIS (Reuters) - Renault (EPA:RENA) held talks this week with China's Li Auto (NASDAQ:LI) and Xiaomi on electric and intelligent vehicle technologies, the French carmaker said on Friday, opening the door to potential collaboration on technology with the two companies.
KEY QUOTE
"Our CEO Luca de Meo engaged in pivotal conversations with industry leaders, including our partners Geely and Dongfeng, key suppliers but also the new players like the founders of Li Auto and Xiaomi Technology," Renault's procurement and partnerships chief Francois Provost said in a post on LinkedIn.
WHY IT'S IMPORTANT
The talks at the Beijing Autoshow come amid an increasingly tense relationship between Europe and China, with the European Commission launching a series of probes into Chinese exports.
Among them, it is investigating whether the rise in sales of Chinese EVs on the continent is due to unfair subsidies. China disputes the claim and has accused Europe of protectionism.
CONTEXT
De Meo has said Europe faces a difficult balancing act to both protect its market and learn from Chinese car manufacturers, which are far ahead in development of EVs and their software.
Renault already partners with China's Geely in thermal and hybrid powertrains, and collaborates with tech companies Google (NASDAQ:GOOGL) and Qualcomm (NASDAQ:QCOM) in smart cockpits.
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Written By: Reuters
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