Renault Korea taps into 'French DNA,' launches new company name and emblem

Industry

Published: 03 Apr. 2024, 16:45 Updated: 03 Apr. 2024, 18:53

Renault Korea taps into 'French DNA,' launches new company name and emblem

From left, Arnaud Belloni, vice president of Renault Group heading global marketing, Renault Korea CEO Stephane Deblaise, and Gilles Vidal, design director at Renault, take a photo with Arkana, previously known as XM3 in Korea, after a press conference Wednesday in eastern Seoul. [RENAULT KOREA]

Renault Korea aims to stoke a revival in the Korean market, unveiling a new company name and emblem.

The automaker, which was previously known as Renault Korea Motors, said it is now dropping "Motors" from the company name.

It also ditched the "storm’s eyes” logo and pivoted to the widely known diamond-shaped emblem, dubbed the Losange.

"The change in name and emblem implies our intention to add up French DNA and make Renault Korea a global auto brand," said Renault Korea CEO Stephane Deblaise.

"We will introduce one new vehicle in Korea each year."

Renault Korea CEO Stephane Deblaise speaks at a press conference Wednesday in eastern Seoul. [RENAULT KOREA]

The name change comes four years after the company changed its name from Renault Samsung Motors to Renault Korea Motors after its contract with Samsung ended.

Cars available in Korea will have new names. Renault's XM3 will now sport the Losange emblem and be marketed as the Arkana — its name in international markets.

The QM6 will also boast the new emblem but will not undergo a name change due to the model's familiarity with Korean customers. The QM6 is Renault Korea's best-selling model on the domestic market.

The SM6 will maintain both its name and emblem.

The Scenic SUV from Renault. This all-electric SUV will hit Korea next year. [RENAULT KOREA]

Renault Korea is set to introduce the Aurora 1, a hybrid midsize SUV, to Korea in the second half of the year. The Aurora project is a Renault Korea-led initiative to develop three new vehicles — two hybrids and a pure EV.

Renault will also introduce the Scenic, a pure-electric SUV, to Korea next year, but Deblaise stated that the EV "won't be produced in its plant in Busan."

Renault Korea is currently suffering from shrinking sales in the domestic market, with public criticism rising due to the company's lack of new models. The company sells three models in Korea — the SM6, QM6 and XM6 — but the first two models have not been fully revamped since their first introduction in 2016.

Renault sold a total of 22,460 vehicles in Korea last year, down 57 percent on year. Sales figures remain around one-seventh in comparison to their peak in 2010.

Renault Korea recently announced 118 billion won ($88 million) in investment to replace old machinery in its Busan plant with EV equipment over the next three years.

The investment could increase to 1 billion euros ($1.1 billion), Deblaise said.

The Polestar 4 EV will be manufactured at the Busan plant from 2025.

The plant, built in 1997, produces midsize SUVs 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]