October 2, 2022

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Renault Drops Samsung Moniker From Its Name In Korea

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Renault has disclosed it will improve its name in Korea from Renault Samsung Motors to Renault Korea Motors.

The auto manufacturer has been functioning as Renault Samsung Motors given that 2000 when Samsung Motors became a subsidiary of Renault. The French vehicle company has discovered it will now improve its name in a bid to boost its impression as a domestic carmaker in Korea.

“Under the new name Renault Korea Motors, we will revise products and provider competitiveness to satisfy the large criteria of domestic shoppers and aim additional on the Korean market place,” the firm confirmed in a assertion.

Read Also: Renault And Geely Sign up for Forces To Give Renault-Samsung A Manufacturer-New, CMA-Primarily based Lineup

Renault Korea Motors&#8217 new symbol

Renault Korea Motors commenced making use of the new identify on March 16 and will modify its official corporate name by August, the Korea Herald reports.

Renault retains an 80.1 for each cent stake in Renault Korea Motors though Samsung owns the relaxation. Samsung’s offer with Renault to use its identify in the model ended in August 2020 but a two-year extension was agreed on which finishes this August. Samsung gets royalties from the automaker’s domestic earnings every 12 months in exchange for working with its title. Renault pays it .8 for every cent to be specific.

To prepare for the title adjust, Renault Korea Motors has designed a new symbol with a revised cyclone-formed emblem.

Renault Korea Motors is setting up to expand its domestic vary of automobiles with Zhejiang Geely Holding Group.

“We anticipate our newly appointed CEO Stephane Deblaise who majored in engineering in college and served as a method director for mid- to large measurement motor vehicles, to contribute in properly stabilizing Renault Korea Motors,” the company reported.

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