Renault Directors Bail on Struggling China Venture

All four directors representing Renault Group have left the board of its China joint venture (JV) with Jiangling Motors Group Co. Ltd., according to public business records, reflecting the French carmaker’s intention to divest from the company which is struggling with a liquidity crisis and sluggish sales.

After the boardroom shakeup at Jiangling Group Electric Vehicle Co. Ltd. (JMEV), Liu Guowei, who was assigned by Renault to deal with its China businesses, handed the role of the JV’s general manager over to Shan Fengwu, who used to serve as the firm’s party chief and deputy general manager.