Renault China new boss to halt investment plan

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Shanghai, October 29, 2008: (Gasgoo.com) Renault said Richard Valette would leave his post as the managing director of Renault China, to be succeeded by Robert Chen from Nissan Infiniti in North America, Beijing Youth Daily said today. The appointment will be effective from the end of December 2008.

Renault China will halt its investment program in China and will instead step up the introduction of imported Renault vehicles, said Robert Chen, who will move to China in mid-December from North America.

An earlier report by gasgoo.com said Renault is set to unveil its investment project globally which naturally includes its production plan in the Chinese market, but with the overall market slowing, Renault has a challenging job because a joint venture in the auto industry generally requires large amount of money. After a short meeting with the newly-appointed Robert Chen two weeks ago, five Chinese Renault dealers have realized Renault¡¯s plan to build an investment company in China will be halted.

To promote Renault brand through importing cars is becoming the top priority of Robert Chen before Renault¡¯s new joint venture is established. Renault is scheduled to introduce the third generation Laguna and Koleos SUVs in China in November and next March respectively.

Laguna competes with Audi A4 and BMW 3-series in Europe and the upcoming Laguna in China will also be compared to Audi A4 price, with the entry-level 2.0L Laguna likely be priced within 330,000 yuan, sources close to Renault said. The Koleos will be priced below its targeted rival Outlander, which sells for around 280,000 yuan.

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