Renault and Chinese partner Geely plan to announce an agreement later this month involving cooperation between the companies in Brazil, the world's sixth largest vehicle market, three sources told Reuters.

The two carmakers set up an engine joint venture last year, dubbed Horse Powertrain, and have since also started selling cars produced at a joint plant in South Korea.

Now, the companies are planning to expand the partnership even further, involving operations in Brazil. The idea is for Geely to use Renault's dealer network in the country as early as this year to start selling its own brand vehicles exported from China.

In addition to Renault, Stellantis has formed a partnership with China's Leapmotor to sell electric vehicles in Brazil and Chile, an initiative that should be launched in April.

(Source: Infomoney, on February 12)