# 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.

- Type: Partnership
- Announced: 2022-11-08
- Where: London, United Kingdom
- Jobs: 19,000
- Status: announced
- Products: gasoline engines, hybrid technology
- 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

- [financialnewsletter.com](https://financialnewsletter.com/renault-geely-clinch-deal/), 2022-11-08: "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."

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