At the recently concluded Qingdao Multinationals Summit, the Jinan Start-up Area for Growth Drivers Transformation signed a strategic cooperation agreement with Renault China. This agreement marks the first step in establishing the high-end new energy vehicle industrial park of BeyonCa within the start-up area.

The Thematic Promotional Meeting on New Opportunities for Cooperation with Jinan was held during Qingdao Multinationals Summit on Aug 28. [Photo/Aijinan App]

BeyonCa is a strategic investment by Renault China and Dongfeng Motor Corporation that aims to create a world-class luxury smart electric vehicle brand.

Soh Weiming, CEO of Renault China and founder and chairman of BeyonCa, expressed strong confidence in the industrial park's potential in Jinan. He emphasized that starting in Jinan, with Hong Kong as a pivotal location, BeyonCa is poised to become a top-tier brand.

This project represents a significant advancement for Jinan in enhancing its new energy vehicle industry. Currently, Jinan is home to two major new energy passenger vehicle manufacturers BYD and Geely, as well as specialized new energy commercial vehicle manufacturers like Sinotruk and new energy bus producers such as Changan Auto.

In 2023, Jinan's new energy vehicle output reached 378,000 units, ranking 10th in China.

With the full-scale production of various projects in the future, Jinan's position in the new energy vehicle sector is expected to become increasingly prominent.

The Geely manufacturing base in the Jinan Start-up Area for Growth Drivers Transformation. [Photo/Aijinan App]