"Renault and Geely join forces to become world leaders in hybrid and internal combustion engines"

Renault and Geely have reached an agreement for a former new joint venture focused on thermal and hybrid engines, as well as on projects related to synthetic fuels and hydrogen. This collaboration marks a key stage in the reorganization of Renault, which has decided to separate its activities related to electricity and combustion. Looking for a partner to boost its profitability in the thermal sector, Renault turned to Geely, Volvo's parent company.

A strategic alliance for global leadership

Renault and Geely will each hold a 50% stake in the joint venture, and management will be joint, with a board of directors made up of representatives from both parties. The headquarters of this new company should be established in the United Kingdom, with two operational centers in Madrid for the Renault group and in Hangzhou Bay for Geely. The objective is to become the world leader in the development, production and supply of advanced hybrid and thermal powertrains.

An extensive and attractive offer

By combining their resources and expertise, Renault and Geely aim to become a major player in the field of combustion engines, hybrids and plug-in hybrids. The joint venture supplies the respective brands of the two groups, such as Dacia, Volvo, Nissan and Mitsubishi, but it also aims to attract other partners who need thermal and hybrid engines without wanting to invest massively in these technologies.

An ambitious production

From the start, the joint venture will have 17 factories and aims to produce up to five million transmissions and internal combustion engines, hybrids and plug-in hybrids per year. This production capacity has increased the company's competitiveness in the global engine market.

Potential partnerships with Aramco

Renault and Geely could also be joined in this project by the oil giant Aramco. This collaboration could make it possible to broaden the field of action of the joint venture by including new fuels such as e-fuels, an alternative studied by Dacia, as well as hydrogen. This alliance demonstrates that the joint venture is not only aiming for a transition to electric, but that it is also committed to exploring other sustainable energy technologies and solutions.

In conclusion, the collaboration between Renault and Geely for the former joint venture dedicated to hybrid and thermal engines marks a major step in Renault's strategic reorganization and aims to strengthen their position in the global powertrain market.