Renault, Minth to Create French Battery Casing JV by Early 2023
Renault Group and Minth Group have signed a memorandum of understanding to create a joint venture for producing battery casings in France. This partnership positions Renault as a leading player in the electric vehicle value chain, as stated by Jose-Vicente de los Mozos, EVP Industry, Renault Group.
The joint venture, expected to finalize by early 2023, is subject to usual conditions including employee representation and competition authority approval. It aims to support the growth of the electric vehicle market and the development of Renault ElectriCity's industrial cluster.
Battery casings, strategic components for electric vehicles, contribute to durability and safety. The joint venture will be based at the Ruitz plant in Renault ElectriCity and supply other Renault plants in Douai and Maubeuge. It plans to install two new production lines in Ruitz in 2023, with a capacity of 300,000 battery casings per year by 2025.
Dr Jimmy Wong, Managing Director of Minth Europe, expressed gratitude for Renault's support and optimism about the joint venture's benefits for the local economy and Minth's global expansion.
The joint venture between Renault Group and Minth Group is set to boost the production of battery casings in France, contributing to the growth of electric vehicles and the local economy. The finalization of the joint venture is expected by early 2023, subject to usual conditions.
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