A bird's-eye view of Renault's Ayrton Senna industrial complex in Brazil. [Photo/Geely Group]

Hangzhou-based auto giant Geely announced on Nov 3 that it has acquired a 26.4-percent stake in the Brazil branch of French automaker Renault, marking a major step forward for Geely in its South American expansion efforts.

Under the agreement, Geely will localize production at Renault's Ayrton Senna industrial complex and sell its new energy vehicles through Renault's existing dealer network in Brazil.

Headquartered in Hangzhou's Binjiang district, Geely owns several major brands including Lynk & Co, Zeekr, Volvo, Galaxy, and Farizon.

From January to September, Geely sold 2.95 million vehicles, nearly 10 percent of which were exports, with overseas sales of new energy vehicles surging — over 14,000 units were sold abroad in September alone, accounting for 36 percent of exports.

As South America's largest auto market, Brazil saw 2.63 million new car sales in 2024, up 14.1 percent year-on-year. The booming demand has drawn major Chinese automakers such as BYD and Chery to build local factories. Geely's partnership with Renault enables both sides to share production capacity and market networks, accelerating their expansion in Latin America.

Geely said the collaboration will also allow Renault to integrate advanced Chinese EV technologies into its lineup to meet Brazil's fast-growing electrification needs.

Following the 2023 partnership between Hangzhou-based Leapmotor and Stellantis, Geely's Brazil venture marks another milestone in China's automotive globalization — demonstrating how Hangzhou carmakers are driving innovation and shaping the global new energy vehicle landscape.

A production line of Geely in China. [Photo/Geely Group]