They started working after the agreement they signed in mid-2023. Renault And Geely companies, combustion and hybrid It is completing its initiatives for engines this month. The companies, which will complete the agreement this month, will produce engines for many brands.
Which brands will Renault and Geely produce engines for?
Announced in July 2023 Renault And Geely The partnership has reached its final stage. For many brands should burn And hybrid Companies aiming to produce engines aimed to establish a 50-50 partnership in the first stage. However, it is currently the world’s largest oil producer Saudi Aramco It was reported that the company called Aramco, or simply Aramco, will also participate in the partnership.
For this partnership horse Proposing a unit called Renault, it participates in the agreement under this name. A total of three companies (Horse, Geely and Aramco) in the agreement made with the merger, the shares of the companies are 40 Horses (Renault), 40 percent Geely And 20 percent Aramco distributed as. It will generate an annual turnover of 15 billion Euros and will operate in 22 global facilities. Employment for 19 thousand people joint venture that will provide TürkiyeIt will operate in countries such as Romania, Spain, China and South America.
In these facilities volvo, Proton, Nissan, Mitsubishi, Renault And Geely for their brands engine The joint venture that will produce it will be a big move, especially for Renault. About the topic Patrice Haetell, CEO of Horse, representative of Renault made the following statements:
“In 2040, combustion and hybrid vehicles will still account for more than 50% of global sales… HORSE will lead this market with its best-in-class low-emission solutions and technological expertise. Contributing to the creation of a company of this scale is a unique experience and a source of great collective pride. “All HORSE teams worldwide are ready to make this an international reference for internal combustion engine and hybrid technologies.”
Horse CEO Patrice Haetell
Giving great importance to this business, Renault employs 9 thousand employees in 8 production facilities within Horse. Renault, which announced that it can produce 3.2 million units annually, will achieve great things with the support of the other two companies. What do you think about the Geely and Renault partnership? You can express your ideas in the comments.
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