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Geely recharges Renault's Chinese ambitions with hybrid tie-up

Joint venture to build cars under French company's brand in world's largest market

A Renault hybrid vehicle: The French automaker is eyeing a slice of what stands to be an enormous market for low- and zero-emissions cars.   © Reuters

BEIJING -- Volvo Car owner Geely will team up with the Renault group on hybrid vehicles in China and South Korea, in the latest European alliance for the largest private-sector Chinese automaker in the world's biggest auto market.

Zhejiang Geely Holding Group is expected to take a majority stake in a new joint venture under a memorandum of understanding announced Monday.

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