# Geely and Renault Group sign framework agreement to form joint venture for hybrid powertrains

Geely Holding Group and Renault Group signed a non-binding framework agreement to form a new company, each holding 50% equity, to develop, manufacture, and supply advanced hybrid and efficient fuel powertrains globally. The new company will operate 17 factories across three continents with about 19,000 employees and annual capacity of 5 million units, supplying over 130 countries.

- Type: Partnership
- Announced: 2022-11-08
- Jobs: 19,000
- Status: announced
- Capacity: 5 million units per year
- Products: hybrid powertrains, fuel engines, hybrid engines, plug-in hybrid engines, transmissions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Renault](https://endata.com/companies/20691.md) (partner)
- [Zhejiang Geely Holding Group](https://endata.com/companies/24488.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)

## Sources

- [zgh.com](https://zgh.com/media-center/news/2022-11-08/), 2022-11-08: "吉利和雷诺集团将分别持有新公司50%的股权。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.