Renault brand CEO visits Korea to inspect Aurora project

Industry

Published: 16 Jan. 2024, 16:42

Renault brand CEO visits Korea to inspect Aurora project

Renault brand CEO Fabrice Cambolive inspects Renault Korea Motors' Busan plant. [RENAULT KOREA MOTORS]

Renault Brand CEO Fabrice Cambolive visited Korea to inspect the Aurora project, a Renault Korea Motors-led initiative to develop three new vehicles.

Cambolive visited the company's plant in Busan, as well as its office in Seoul, to check in on progress during his recent three-day trip, Renault Korea said Tuesday.

“Renault is preparing for a new phase in the Korean market this year,” Cambolive said while reviewing the Aurora project.

“Thanks to the passion and incredible teamwork of Renault Korea, an amazing vehicle was prepared. It will certainly be a vehicle that meets the high expectations of Korean and international consumers and bring big changes not only to the Korean market, but also to Renault's global market strategy.”

Renault brand CEO Fabrice Cambolive inspects Renault Korea Motors' Busan plant. [RENAULT KOREA MOTORS]

Renault Group said in October that it planned to roll out eight new models by 2027 in an effort to tap the non-European market. Korea will serve as a hub for the development and production of high-end D- and E-segment vehicles.

The first model to be introduced will be an SUV equipped with the company's latest E-TECH hybrid system and Compact Modular Architecture (CMA) platform, which is set to roll out in the second half of this year.

The newly launched XM3 hybrid accounted for 54 percent of new contracts made during the 11 days of the new year. Its per-day sales are growing at more than 10 times the past year's average.

“The Busan plant is famous for its outstanding production quality around the world,” Cambolive said.

Renault said in November that the Polestar 4 — the first fully electric car from an overseas brand to be made in Korea — will be manufactured at its Busan plant starting in 2025.

The company also plans to invest in the construction of a new Busan facility with an expected capacity of 200,000 units, which it plans to use as an export hub. The size of the investment has not been announced, though local reports anticipate that it will total around 1 trillion won ($760 million).

The Busan plant, built in 1997, produces internal combustion engine models including the XM3, QM6 and SM6. Its annual capacity stands at 300,000 units, and it employs around 2,000 workers.

BY SARAH CHEA [chea.sarah@joongang.co.kr]