Renault Alliance Invests in Chinese Electric-Vehicle App Maker
18 Février 2019 - 10:30AM
Dow Jones News
By Nathan Allen
Renault SA (RNO.FR) said Monday that the venture-capital arm of
its alliance with Nissan Motor Co. (7201.TO) and Mitsubishi Motors
Corp. (7211.TO) has invested in Chinese app developer
PowerShare.
Renault's investment comes as European auto makers look to
optimize their operations in the Chinese market. Following
Beijing's relaxation of foreign-ownership rules and facing the
challenge of contracting car sales in China, Europe's car
makers--including Peugeot SA (UG.FR) and BMW AG (BMW.XE)--have been
diversifying and growing their operations in China.
PowerShare provides an online platform that connects
electric-vehicle drivers with operators of charging points and
power suppliers.
Renault didn't provide financial terms of the investment.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 18, 2019 04:15 ET (09:15 GMT)
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