CHINA DAILY | HONG KONG EDITION Monday, November 4, 2019 MOTORING | 19 Renault seeks out Short Torque Great Wall, Ergo join hands in insurance JV its niche in China to Chinese carmaker Great Wall Motors has struck a deal with Ergo, the retail insurance arm of Munich Re, to create a joint lure more customers venture providing insurance to car owners in China, the compa By LI FUSHENG nies announced. The joint ven
[email protected] ture will be put into operation A major challenge early next year, the companies Chinese people love French said, adding that Ergo would goods: wine, perfume, handbags. for us is low brand own 49 percent and Great Wall But French cars have proved an awareness, so we Motors 51 percent. The German exception so far. insurer intends to carve out a France’s secondlargest car don’t have enough stake in the highlyregulated maker Renault sold 132,138 vehi inflow of customers market largely controlled by cles in China from January to Chinese vendors, said Ergo’s September, a drop in the ocean of to our showrooms.” head of mobility solutions Kar sten Crede. Great Wall Motors is the country’s 18.37 million deliv Francois Provost, senior vice eries. president of Renault and one of the bestselling Chinese Peugeot owner PSA Group was chairman of its China carmakers, with sales in 2018 worse, with 91,000 sold in the operations exceeding 1 million vehicles. same period in the world’s largest car market. GAC Honda forms In contrast, Germany’s Volks 11 Visitors try out a Hyundai model at the Guangzhou auto show.