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Automobiles

Renault China JV seeks bankruptcy restructuring in court

Move follows sales slump for van-making partnership with Brilliance Auto

Renault Brilliance Jinbei Automotive has halted production and “has not been able to meet its current financial obligations," its Chinese parent said.   © AP

HONG KONG -- Renault's commercial vehicle manufacturing joint venture in China is seeking bankruptcy restructuring in court in the latest in a series of setbacks for the French automaker and local partner Brilliance China Automotive Holdings.

In a filing to the Stock Exchange of Hong Kong, state-owned Brilliance China, which controls 51% of the joint venture, said Renault Brilliance Jinbei Automotive has halted production and "has not been able to meet its current financial obligations."

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