Luca de Meor, chairman of Renault Group, announced his intention to make large-scale investments with the goal of making Korea a base for exporting mid- to large-sized vehicles.

Chairman De Meo said at a press conference held in Cheongdam-dong, Gangnam-gu, Seoul on October 11th, "If conditions are met, Renault hopes to invest hundreds of millions of euros in Korea over the next six years." The group's goal is to enjoy opportunities closely connected to the technology ecosystem.

De Meo, who took office as Renault Group chairman in July 2020, recently arrived in Korea to check various issues of Renault Motors Korea.

This is his first visit to Korea since taking office.

He said, "Renault Korea will soon introduce mid-to-large segment vehicles that lead premium specifications and functions with a new lineup".

Chairman De Meo said, "Within the group, Korea is recognised as a bridgehead where innovative metaverse technology can be utilised".

As a necessary condition for investment in the Korean market, he said, "There is a premise that the joint venture with China's Geely is operating well as planned".

Previously, Renault Group and Geely Motors agreed to cooperate to launch a joint model for the Korean market, and a new eco-friendly car jointly developed by the two sides will be produced at Renault Korea's Busan plant in 2024.

Renault Korea will research, develop, and produce joint venture models in Korea, release them in the domestic market, and promote export.

"One thing is certain, a new chapter is opening for Renault Korea automobiles and a new platform is coming. I'm sure it will be a good time," he said.

Chairman De Meo said, "As a business person, I consider it a very risky trend" regarding the rising trade barriers with the United States and China and the emphasis on domestic investment. Even if we look at the fact that an FTA has been signed, it can serve as a bridgehead to produce tea here and connect it to other countries such as Europe," he emphasised.

When asked if he had contact with the three battery companies in Korea (LG Energy Solution, Samsung SDI, and SK On), he said, "All three are long-term partners, and we have met some of the best leaders among them. It is to strengthen the relationship, and we are discussing expanding the battery capacity."