# Renault and Geely in talks with Aramco for hybrid engine joint venture

Renault SA and Geely Automobile Holdings are in advanced discussions to bring Saudi Aramco as an investor and partner in a new powertrain joint venture, with Aramco potentially taking up to a 20% stake. The venture aims to produce over 5 million low-emission and hybrid engines annually.

- Type: Partnership
- Announced: 2023-01-17
- Status: rumored
- Capacity: 5 million engines and transmissions per year
- Products: gasoline engines, hybrid technologies
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Saudi Aramco](https://endata.com/companies/304.md) (investor)
- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)

## Sources

- [globalbankingandfinance.com](https://www.globalbankingandfinance.com/exclusive-renault-geely-look-to-bring-aramco-into-engine-venture-sources/), 2023-01-17: "The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in a previously announced but still-unnamed Geely-Renault powertrain technology company."

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