Renault and Geely sign $8.8B joint venture for powertrain company

Renault SA and Zhejiang Geely Holding Group Co. signed a joint venture agreement to create a new combustion engine and hybrid powertrain company, valued at around €8 billion ($8.8 billion). The venture, named Horse by Renault, will have 17 plants and 19,000 employees, with headquarters in the UK.

“The tie-up is worth around 8 billion euro ($8.8 billion) through the combination of Renault and Geely’s contributions.”ttnews.com

• 1 source
• ttnews.comRenault, China’s Geely Sign $8.8 Billion Powertrain Tie-Up - TTAlbertina Torsoli, Linda LewJul 11, 2023

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