Renault and Geely companies, which started working after the agreement they signed in mid-2023, are completing their initiatives for combustion and hybrid engines this month. The companies, which will complete the agreement this month, will produce engines for many brands.
Which brands will Renault and Geely produce engines for?
The partnership between Renault and Geely, which was announced in July 2023, has reached its final stage. Companies aiming to produce combustion and hybrid engines for many brands aimed to establish a 50-50 partnership in the first stage. However, it has been reported that the company called Saudi Aramco, or simply Aramco, currently the world’s largest oil producer, will also participate in the partnership.
Renault, which proposed a unit called Horse for this partnership, is participating in the agreement under this name. In the agreement made with the merger of three companies (Horse, Geely and Aramco), the shares of the companies were distributed as 40 percent Horse (Renault), 40 percent Geely and 20 percent Aramco. The joint venture, which will create an annual turnover of 15 billion Euros and employ 19 thousand people in 22 global facilities, will operate in countries such as Turkey, Romania, Spain, China and South America.
The joint venture, which will produce engines for Volvo, Proton, Nissan, Mitsubishi, Renault and Geely brands in these facilities, will be a big move especially for Renault. Regarding the issue, Renault’s representative, Horse CEO Patrice Haetell, made the following statements:
“In 2040, combustion and hybrid vehicles will still account for more than 50% of global sales… HORSE will lead this market with its best-in-class low-emission solutions and technological expertise. Contributing to the creation of a company of this scale is a unique experience and a great collective pride “All HORSE teams worldwide are ready to make this an international reference for internal combustion engine and hybrid technologies.”
Horse CEO Patrice Haetell
Giving great importance to this business, Renault employs 9 thousand employees in 8 production facilities within Horse. Renault, which announced that it can produce 3.2 million units annually, will achieve great things with the support of the other two companies. What do you think about the Geely and Renault partnership? You can express your ideas in the comments.
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