Renesas to set up ‘New Energy Vehicle Solution Centre’

China has positioned EVs, PHVs, and fuel cell electric vehicles (FCEVs) as “NEVs” and considers the sector to be a strategic national industry. The Chinese government has also announced a policy aimed at expanding both production and sales of new energy vehicles to two million units per year by 2020. This has led to Renesas recognising China as the world’s largest market for new energy vehicles and an advanced market for new energy vehicle development. And as a response to this, Renesas will establish a new organisation in order to actively engage in local innovation and market opportunities. The new organisation will operate directly under the China Business Unit, which was set up in March 2017 with the aim of unifying in a single business unit sales, marketing, design and development, and manufacturing functions for the Chinese market. In November 2015 Renesas announced a strategic partnership with National Electric Vehicle Sweden (NEVS), a Swedish company in which the Chinese government holds a majority investment, and in May 2017 Renesas also entered into a strategic partnership with Great Wall Motors, one of China’s largest manufacturer of SUVs and pick-up trucks.