Renault has opened a new research and development office in Hangzhou, marking another sign of how China is shifting from a sales market for foreign carmakers into an engineering base for global vehicle programmes.
ANG Editor
China’s passenger vehicle market remained under pressure in May, with retail sales falling 22.1% year on year to 1.51 million units, according to the China Passenger Car Association. Sales in the first five months dropped 19.5% to 7.10 million units, underscoring the continued weakness in domestic demand.
