Renault SA and China's Geely have agreed to launch a new, equally held joint-venture that will supply gasoline engines and hybrid technology to the brands they own and other automakers, the two companies said in a statement.
and China's Geely have agreed to launch a new, equally held joint-venture that will supply gasoline engines and hybrid technology to the brands they own and other automakers, the two companies said in a statement.
The joint-venture will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said. The framework agreement clears an important benchmark in a months-long effort by the French automaker to carve out its internal combustion business as a separate company.
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