Dongfeng Renault Automotive aims to sell 400,000 units annually by 2022

Dongfeng Renault Automotive Co said today that it aims to increase annual sales to 400,000 units in China by 2022.

"China is the world’s largest auto market and a global trendsetter in the mobility of the future. This is why we have made it a strategic priority for growth," said Carlos Ghosn, chairman and chief executive officer of Renault Group during a press conference today.

The Sino-French joint venture between French car maker Renault and Chinese automaker Dongfeng Motor plans to introduce nine models, including three electric vehicles, in the next five years by 2022.

The joint venture plans to continue focusing on the development of sport-utility vehicles as it targets the fast-growing segment in China.

It will also develop cars to meet the demand of Chinese consumers, and plans to enhance research and development on electric vehicles, autonomous driving and connected vehicles.

"Dongfeng Renault Automotive Co will take advantage of these technologies to satisfy tech-savvy Chinese consumers, particularly the younger generation," the company said.

The company added that it will expand its footprint in China and aims to enlarge its dealership network to 400 by 2022.