# Geely and Renault to form powertrain joint venture

Geely Holding and Renault Group signed a non-binding framework agreement to create a new global company for hybrid and internal combustion powertrains. The venture will have 17 plants, 5 R&D centers, and 19,000 employees, with each partner holding a 50% stake.

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

## Companies

- [Zhejiang Aurobay Powertrain Co., Ltd](https://endata.com/companies/66490.md)
- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Holding](https://endata.com/companies/25757.md) (partner)

## Sources

- [news.cision.com](https://news.cision.com/aurobay/r/aurobay-part-of-new-global-company-for-next-generation-powertrains,c3662946), 2022-11-08: "Geely Holding 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 internal combustion 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.