Renault Korea signs MOU with Busan City for additional investment in electrification facilities

*This content was translated by AI.

Renault Korea signed a business agreement with Busan City Hall on the afternoon of March 23, 2026 to build an electric-powered vehicle production facility at its factory in Busan. This agreement is part of a new investment plan announced at 'APEC CEO SUMMIT KOREA 2025' last year, and Renault Korea will invest additional facilities in its Busan plant to expand the production of electrification models.

Earlier, Renault Korea had built 68 facilities to simultaneously produce internal combustion engines, hybrids, and pure electric vehicles from one mixed production line in its Busan plant. Currently, the Busan plant is producing hybrid models Philant, Grand Coleos, and Arcana, as well as Polestar 4, a pure electric vehicle, and this additional investment will strengthen the production capacity of electric models. Renault Korea's Busan plant has the ability to produce up to four platforms and eight models in a single line and serves as a key production base for Renault Group.

Renault Group's mid- to long-term strategy "futuReady Plan" recently highlighted the importance of the Busan production model as it is mentioned as one of the five global hubs for strengthening global markets outside Europe. Through this agreement, the Busan Metropolitan Government decided to consider purchasing the global flagship crossover model 'Philant', which is produced in Busan and exported to the global market, as a city vehicle.

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*This content was translated by AI.