French carmaker Renault and British racing-car company Caterham have expanded their joint venture (JV) for the development of a new sports utility vehicle (SUV) and subcompact model vehicles.
The new vehicles would be based on the Renault-models and are expected to be launched in 2016 under the Caterham and Renault Alpine brands.
Caterham chairman Tony Fernandes was quoted by the automotive news as saying that the company intends to follow the success of the Range Rover Evoque with the new Caterham SUV, which along with the sub-compact model will be targeted specifically at the Asian market.
"Sports cars will do well but the city car and SUV are what the [Asian] market really wants," Fernandes added.
According to the companies, the vehicles will be partially assembled by Renault before being shipped to Asia for final assembly.
Earlier, both the companies have partnered to set up a new joint venture (JV) for developing and producing future sports vehicles that will be marketed under the Alpine brand at Renault's Alpine plant in Dieppe, France.
