Renault hires in China to improve EV development, Bloomberg says

Renault (RNLSY) is trying to strengthen its footprint in China, a country where it doesn’t sell cars, Albertina Torsoli and Haze Fan of Bloomberg reports. The automaker is turning to one of the few markets where battery-powered cars are selling well in order to access new technology and learn how to make EVs faster. Renault has hired 200 people in Shanghai, mostly as hardware engineers, with plans to work on the development of a sub-EUR 20,000 electric Twingo and plans to onboard software engineers, people familiar with the situation told Bloomberg.