Renault Group and Geely sign joint venture agreement for powertrain technology company

Renault Group and Geely signed a binding 50/50 joint venture agreement to launch a new powertrain technology company, aiming to become a global leader in hybrid and efficient ICE powertrains. The joint venture will include 17 engine plants and 5 R&D centers, with annual capacity up to 5 million engines and transmissions.

“The joint venture company aims to have an annual production capacity up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions per year.”iot-automotive.news

• 1 source
• iot-automotive.newsRENAULT GROUP AND GEELY SIGN JOINT VENTURE AGREEMENT TO LAUNCH LEADING POWERTRAIN TECHNOLOGY COMPANYAug 4, 2023

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