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The French Renault and the Chinese Geely have announced a joint venture. The new company structure will focus on the production of gasoline engines and the development of
At the moment, it is already known that the workforce of the newly created company will be about 19,000 people. They will work in 17 power unit production plants and in three research centers. Renault and Geely will each receive a 50% stake in the new industrial conglomerate. Although the preliminary agreement between Geely and Renault is not yet binding, it is already known that the future joint venture will be headquartered in London.
It is also reported that the new association will supply internal combustion engines and hybrid powertrains to Renault partners Nissan Motor Co and Mitsubishi Motors. The joint venture’s total production of engines is estimated at approximately 5 million units per year.
At the moment, it is already known that the workforce of the newly created company will be about 19,000 people. They will work in 17 power unit production plants and in three research centers. Renault and Geely will each receive a 50% stake in the new industrial conglomerate. Although the preliminary agreement between Geely and Renault is not yet binding, it is already known that the future joint venture will be headquartered in London.
It is also reported that the new association will supply internal combustion engines and hybrid powertrains to Renault partners Nissan Motor Co and Mitsubishi Motors. The joint venture’s total production of engines is estimated at approximately 5 million units per year.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
