Yes it is. It's still a knock off Renault, though, in contrast with relationships like VW/Seat/Audi/Skoda which is more of a conglomerate where they all have the same base models, even if some brands are seen as more premium than the others.

For the life of me I can't think of any other examples of budget brands right now. I remember one for Suzuki motorbikes that I'm pretty sure is a separate company that also manufactures Suzuki under license, but can't remember the name. I'm sure there are loads out there.