Renault CEO at Motor Show: "Busan Plant's Role Crucial to Utilize Korea FTA"

Fabrice Cambolive, CEO of Renault Group, which manages the Renault brand, said, "I think Korea's Free Trade Agreement (FTA) is important," adding, "The key issue is how to make good use of it (FTA), and the Busan plant of Renault Korea can play a very important role."

On the 14th (local time), Cambolive CEO conveyed this during a meeting with journalists from the Korea Automobile Journalists Association at the Paris Motor Show 2024 press day. Renault Korea's Busan plant mainly produces mid-size and compact sport utility vehicles (SUVs), and from the Renault Group's perspective, it primarily manufactures relatively large vehicle models.

Fabris Cambolive, CEO of Renault Brand
[Photo by Korea Automobile Journalists Association]

원본보기 아이콘

As part of the mid-to-long-term electrification transition, the recently launched mid-size SUV, the Grand Koleos, was developed and fully produced in Korea. In the second half of next year, it will also produce electric vehicles from Polestar, a subsidiary of China's Geely Automobile. These vehicles will be launched domestically in Korea as well as exported worldwide, including to North America. Renault and Geely are collaborating on electrified vehicle development at the group level.

Although Cambolive CEO did not disclose specific new project plans for the Busan plant, it is interpreted that he judged the plant's well-established infrastructure for electric vehicle development and production as having high potential for future utilization. The Renault Korea Busan plant has faced difficulties in operation over the past several years due to challenges in smoothly introducing new vehicle models.

Cambolive CEO stated that the electrification transition is the right direction. He said, "It is the right path for the whole world to become 100% electrified, but how to achieve 100% through a certain strategy is also important," adding, "We will pursue both hybrid and small-to-mid-size (B and C segment) electric vehicles." This means rather than focusing on one side, they plan to equip various propulsion methods such as hybrid, electric, and hydrogen vehicles in multiple ways.

Renault exhibition booth at the 2024 Paris Motor Show, which opened on the 14th
[Photo by Korea Automobile Journalists Association]

원본보기 아이콘

Cambolive CEO served as the head of Renault Group's AMI Pacific region in 2019, managing the Korean market, and led the domestic launch of the coupe-style sport utility vehicle (SUV) ‘XM3,’ Renault Korea's representative model.

Next year, Renault plans to introduce the electric vehicle Scenic E-Tech in Korea. Cambolive CEO said, "There is always a risk when trying something technically," and added, "It is important to establish a foundation where Scenic can grow to some extent in the Korean market regardless of changes in global market demand."

Regarding the full-scale entry of Chinese electric vehicles into Europe, he said, "European and Chinese brands should compete fairly," but also noted, "However, China started electrification very quickly, and as such, they have excellent technology, especially in batteries."

Fabrice Cambolive, CEO of Renault Brand, being interviewed by Korean reporters
[Photo by Korea Automobile Journalists Association]

원본보기 아이콘

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.