# Saudi Aramco to take minority stake in Renault-Geely engine venture

Saudi Aramco agreed to take a minority stake in a new powertrain engine company to be jointly set up by Renault and Geely Automobile Holdings.

- Type: Partnership
- Announced: 2023-03-02
- Status: announced
- Products: powertrain engines
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)
- [Saudi Arabian Oil Company](https://endata.com/companies/34735.md) (investor)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/renault-geely-ink-pact-with-aramco-engine-venture-2023-03-02/), 2023-03-02: "Oil giant Saudi Aramco has agreed to take a minority stake in a new powertrain engine company that French car maker Renault SA and China's Geely Automobile Holdings Ltd plan to set up jointly"

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