Renault Group in partnership with Geely to launch a new powertrain technology company

Both companies will hold a 50% stake in the new company, which aims to become the leader in next-generation hybrid and highly efficient powertrain solutions

After the November 2022 framework agreement, Geely Holding Group, Geely Automobile Holdings Ltd. (collectively referred to as Geely) and Renault Group signed a binding 50/50 joint venture agreement on July 11 to launch a new powertrain technology company with a goal to emerge as the global leader in developing, manufacturing and supplying best-in-class hybrid powertrains and highly efficient internal combustion engine (ICE) powertrains.