# Geely Automobile Holdings to acquire 34.02% stake in Renault Korea Motors

Geely Automobile Holdings will subscribe for 34.02% of shares in Renault Korea Motors through a capital increase. The deal will enable production of hybrid and ICE vehicles at the Busan facility starting in 2024.

- Type: Acquisition
- Announced: 2022-05-10
- Where: Busan, South Korea
- Status: announced
- Products: hybrid electric vehicles, internal combustion engine vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (acquirer)
- [Renault Korea Motors](https://endata.com/companies/62769.md) (target)

## Sources

- [media.renaultgroup.com](https://media.renaultgroup.com/geely-automobile-holdings-to-acquire-3402-of-the-shares-of-renault-korea-motors/?lang=eng), 2022-05-09: "This will enhance the collaboration between Renault Group and Geely Auto in future projects around the launch of an all-new vehicle lineup for the South-Korean market as announced in January 21, 2022."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.