Renault To Produce Ultracompact EV Twizy In S. Korea

Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Tuesday it has signed an initial pact with a city government to produce the Twizy ultracompact electric car here.

SEOUL, (APP - UrduPoint / Pakistan Point News - 18th Dec, 2018 ) :Renault samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Tuesday it has signed an initial pact with a city government to produce the Twizy ultracompact electric car here.

Renault Samsung signed a memorandum of understanding with Busan Metropolitan City to move its parent Renault's plant in Valladolid, Spain to Busan, 450 kilometers south of Seoul, with a plan to start production next year, the company said in a statement.

Renault Samsung, which is 80 percent owned by Renault, has one plant with an output capacity of 270,000 units in the port city of Busan.

This year, Renault Samsung has sold most of the 1,000 Twizys, which were produced in Renault's Valladolid plant and shipped to Korea.

It plans to roll out up to 15,000 Twizys annually for domestic sales and exports to Asian markets.

From January to November, its overall sales fell 19 percent year-over-year to 209,126 autos from 250,293 a year earlier.

Its current lineup includes the SM3 compact, the all-electric SM3 Z.E. sedan, the QM3 small SUV and the SM5, SM6 and SM7 sedans.