# Geely and Renault Group to form 50-50 powertrain joint venture

Geely and Renault Group signed a non-binding framework agreement on November 8, 2022, to create a new global company with 50-50 equity stakes, developing and supplying hybrid and low-emission powertrains. The new company will operate 17 plants and 5 R&D centers across 3 continents.

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

## Companies

- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Holding](https://endata.com/companies/25757.md) (partner)

## Sources

- [media.renaultgroup.com](https://media.renaultgroup.com/geely-and-renault-group-sign-framework-agreement-to-create-leading-powertrain-technology-company/?lang=eng), 2022-11-08: "Geely and Renault Group have signed a non-binding framework agreement to create a new global leader to develop, manufacture and supply best-in-class hybrid powertrains and highly efficient ICE powertrains."

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