Renault and Caterham Group Announce Joint Venture for Sports Vehicles

Despite being competitors in the Formula One races, Renault and Caterham Group announced their decision to initiate a joint venture to pursue a common project to design, develop and build future sports vehicles. According to the Renault and Caterham, these future vehicles will be distinctive, differentiated, and carry the respective DNA of Alpine and Caterham Cars, the automotive division of Caterham Group. They will be built at the Alpine plant in Dieppe, Normandy, in France.

100 percent of the Automobiles Alpine Renault company stake is currently being held by Renault SAS; however 50% of this stake will be handed over to the Caterham Group in the formation of this joint venture which is to take place in January 2013. The new company will be named Société des Automobiles Alpine Caterham and will be headed by Bernard Ollivier. Carlos Ghosn, Chairman and CEO of Renault stated, ““This innovative partnership with Caterham embodies a longstanding ambition: the creation of a sports car with the Alpine DNA. It carries both opportunities for the Dieppe plant and the development of its historic know-how.”

Tan Sri Tony Fernandes, Caterham Group Chairman was more expressive, “I have not felt as excited about a new venture since I launched AirAsia in 2001 and I want to thank Carlos Ghosn and Carlos Tavares and everyone in our new Renault family for having the belief in Caterham Group to create this partnership. Many people doubted us 11 years ago when we launched our airline and I am sure that there will be doubters again this time, but we will not fail your trust.

We know the markets we are going into and, particularly in my playground in Asia, there is a huge opportunity to replicate the AirAsia model and give consumers access to exciting, affordable products that marry our interests in F1 and technology and help make their dreams come true.”