Auto makers team up on electric cars

New joint venture to have production capacity of 120,000 vehicles annually

The Renault-Nissan Alliance is partnering with Dongfeng Motor Group to develop and sell electric vehicles in China, which analysts said is primarily to prepare for China's imminent introduction of a plan that stimulates sales of such automobiles.

Renault SA and Nissan Motor will each hold 25 percent of the new joint venture, eGT New Energy Automotive Co, while Dongfeng will hold the remaining 50 percent, according to a Nissan news release on Tuesday.