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

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.