Not electric yet! Renault and Geely are working together on new petrol engines
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The Renault Group works with, among others, Geely, the Chinese manufacturer of Volvo, Lynk and Co. and Lotus. It is striking that the cooperation is aimed at powertrains with combustion engines.
The manufacturers form a new company together. This message does not come out of nowhere. The Chinese carmaker and Renault entered into a partnership back in 2021.
Renault Group x Geely
The new joint venture is much more than that and will in future consist of: 19,000 employees and 17 powertrain plants in 3 countries. In addition, there will be five research and development centers.
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It is estimated that more than 5 million internal combustion engines, hybrid and plug-in hybrid powertrains and transmissions will be produced. These are used for cars in 130 countries.
It is not yet known what Renault and Geely will call the company. However, the French reveal in which cars the powertrains of the joint venture will come: Renault, Dacia, Geely, Volvo, Lynk & Co, Proton, Nissan and Mitsubishi.
Powertrains of internal combustion engines
With the collaboration, Geely and Renault are focusing on powertrains with internal combustion engines, a market in which few manufacturers are still investing. Because the future lies – for the time being – with electric cars. “We are delighted to have entered into an ambitious partnership with Geely to advance internal combustion engine and hybrid engine technologies. These powertrains will remain a critical part of the automotive supply chain for decades to come,” said Luca de Meo, Renault Group CEO.
As one of the few manufacturers still investing in combustion engines, the Geely joint venture will be able to develop a unique position in the automotive industry in the coming years. But you can also see it as an investment in something limited. Because from 2035 the sale of new petrol cars will be banned.
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Source: Auto visie
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
