It is also aiming for an operating cash flow of more than 2 billion euros ($2 billion) a year between 2023-25 from more than 1.5 billion this year, rising to more than 3 billion euros in the following five years. Renault and Geely have an existing joint venture in South Korea. Separately, Volvo Cars said it would divest its 33% stake in its Aurobay unit to Geely, without disclosing terms.