Renault Korea pledged new investment in Korea, including additional facility investment related to electric vehicle production at the Busan plant.
Renault Korea said CEO Nicolas Paris announced a plan to make additional investments in electric vehicle production facilities at the Busan plant at the Asia-Pacific Economic Cooperation (APEC) CEO Summit global corporations investment partnership event held on the 29th at the Gyeongju Arts Center.
CEO Nicolas Paris also filed a foreign direct investment (FDI) report for the amount scheduled to be injected in the short term among the new investments. The company said details such as the total investment size delivered privately and future plans will be disclosed at an appropriate time later.
Earlier, in Jan., Renault Korea updated a total of 68 facilities to convert the Busan plant into a future vehicle production base. Through this, the Busan plant acquired the capability to produce internal combustion engine, hybrid, and all-electric vehicles on a single mixed production line.
Attending the event with the heads of seven global corporations that day, CEO Nicolas Paris said, "Renault Korea is one of Renault Group's five strategic global hubs," and added, "In our future vehicle strategy, Korea plays a very important role."