# Aramco, Geely, and Renault Group sign LOI for low-emission powertrain technology company

Aramco signed a letter of intent to become a minority stakeholder in a new powertrain technology company to be established by Geely and Renault Group. The company aims to produce over five million engines and transmissions annually, focusing on internal combustion, hybrid, and synthetic fuel technologies.

- Type: Partnership
- Announced: 2023-03-06
- Status: announced
- Capacity: over five million engines and transmissions per year
- Products: internal combustion engines, hybrid engines, plug-in hybrid engines, transmissions, synthetic fuels, hydrogen technologies
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Aramco](https://endata.com/companies/2946.md) (investor)
- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Holding](https://endata.com/companies/25757.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)

## Sources

- [geely.com](https://www.geely.com/en/news/2023/geely-renault-aramco-new-powertrain-company), 2023-03-06: "Aramco has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company (PWT), to be established by Geely Holding Group and Renault Group."

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