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Renault Korea Motors to invest KRW 118 bn in its Busan plant to establish a production base for future cars
Renault Korea Motors will invest more than KRW 100 billion in its Busan factory to build a production base for future cars.
Busan-si said that it signed an "MOU on the establishment of production base for future cars" with Renault Korea Motors at Busan City Hall on Marcy 18.
Busan-si and Renault agreed to build a production base at the Busan plant to transform from internal combustion-centered production system to future vehicle-oriented including hybrid cars.
The MOU signing ceremony was attended by Busan's mayor and CEO of Renault Korea Motors.
According to the MOU, Renault Korea will invest KRW 118 billion to build a production base for future cars and replace equipment, while hiring 200 new employees from this year to 2028.
The city will provide administrative and financial support to ensure the facility investment process of Renault Korea for future car production facilities can proceed as planned.
The city expected that the investment of Renault Korea will contribute to the revitalization of the local economy by stimulating the transformation of the local automotive industry into the future cars, promoting development of upstream and downstream industries, and attracting talent.
ccho@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.03.20
Views
37
According to Yonhap News,
Renault Korea Motors will invest more than KRW 100 billion in its Busan factory to build a production base for future cars.
Busan-si said that it signed an "MOU on the establishment of production base for future cars" with Renault Korea Motors at Busan City Hall on Marcy 18.
Busan-si and Renault agreed to build a production base at the Busan plant to transform from internal combustion-centered production system to future vehicle-oriented including hybrid cars.
The MOU signing ceremony was attended by Busan's mayor and CEO of Renault Korea Motors.
According to the MOU, Renault Korea will invest KRW 118 billion to build a production base for future cars and replace equipment, while hiring 200 new employees from this year to 2028.
The city will provide administrative and financial support to ensure the facility investment process of Renault Korea for future car production facilities can proceed as planned.
The city expected that the investment of Renault Korea will contribute to the revitalization of the local economy by stimulating the transformation of the local automotive industry into the future cars, promoting development of upstream and downstream industries, and attracting talent.
ccho@yna.co.kr
Source Text
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Source: Yonhap News (March 18, 2024)
** This article was translated from Korean.