Press Release: Geely and Renault Group sign framework |

Geely and Renault group sign the framework agreement to create a leading powertrain technology company

New global company to develop, produce and deliver advanced hybrid and low in emissions powertrains

• The framework agreement provides that Geely and the Renault group will hold 50% of the shares in the new company
• New partnership aims to become a leader in next-generation hybrid and high-efficiency powertrain solutions to meet global demand in the years to come
• Initiative is part of ‘renovation‘ Transformation at Renault Group and Geely’s transition to smart e-mobility services
• The new company will supply a full range of premium powertrains, including electrified solutions, to multiple brands worldwide
• When completed, the new company will have 17 powertrain factories and 5 R&D centers on 3 continents with around 19,000 employees and supply 130 countries
• The new organizational structure, which combines a strategic presence and an attractive business model, will welcome new partners in due course

8thth November 2022,…