French carmaker Renault and British racing-car company Caterham have partnered to set up a new joint venture (JV) for developing and producing future sports vehicles.
The future vehicles built by the new JV will be marketed under the Alpine brand at Renault's Alpine plant in Dieppe, France.
Caterham Group will own 50% stake in Renault's sports car division Automobiles Alpine Renault company, which is now a wholly owned by Renault.
The new joint venture, Société des Automobiles Alpine Caterham, will be established in January 2013 and will be managed by Bernard Ollivier.
Renault COO Carlos Tavares said partnering with Caterham Group will enable the company to design a vehicle that will embody the very essence of Alpine.
"It could become a reality within the next three or four years," Tavares said.
