Saudi Oil giant Aramco buys stake in Renault, Geely engine firm
The investment would support the development of synthetic fuel solutions, and next generation hydrogen technologies
In a significant announcement, Saudi Arabia state-owned oil firm Aramco, has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company (PWT), to be established by Geely Holding Group (Geely Holding), Geely Automobile Holdings Limited—collectively referred to as “Geely”—and Renault Group.
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