Renault and Geely agree to form 50/50 joint venture for ICE and hybrid powertrains

Renault and Geely signed a non-binding preliminary agreement to launch a 50/50 joint venture supplying gasoline engines and hybrid technology. The venture will employ 19,000 people at 17 powertrain factories and 3 R&D hubs, based in London, with final agreement expected in 2023.

“Renault SA and China's Geely said on Tuesday they have agreed to launch a new, equally held joint venture that will supply gasoline engines and hybrid technology to the brands they own as well as to other automakers.”financialnewsletter.com

• 1 source
• financialnewsletter.comRenault, Geely clinch deal for internal-combustion joint venture | Financial NewsletterReutersNov 8, 2022

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