Brazilian Vice President Geraldo Alckmin said on Tuesday that Renault and China's Geely will invest 3.8 billion reais (US$714 million) in the southern state of Paraná as the two automakers establish a local partnership to develop new vehicles.

The companies said part of the funding will support Geely's zero- and low-emission platform, which will underpin two new models due in the second half of 2026. The rest will go toward updating an existing Renault model next year and launching another vehicle in 2027.