Geely Group partners with Renault on a joint venture to develop combustion engine vehicles.

Geely Group partners with Renault on a joint venture to develop combustion engine vehicles.

Beyond Europe and China, sales of classic combustion engines and hybrids still dominate for the two manufacturers. The new partnership comes after the conclusion of Renault and Nissan's, as well as Mitsubishi's, collaborations. We'll still work with the Japanese on specific projects, they said. Nissan and Mitsubishi are important customers of Horse.

Renault CEO Luca de Meo aims to produce fuel-efficient "combustion engines with low emissions" and "highly efficient hybrids" through this partnership. Additionally, alternative fuels, including green methanol, ethanol, and hydrogen, are significant. Renault is engaged in the electric vehicle market through its subsidiary, Ampere. Geely Holding owns electric vehicle brands including Volvo, Zeekr, Smart, Polestar, and Lotus.

Matias Giannini, a former Continental manager, is in charge of managing the new joint venture. Daniel Li, CEO of Geely Holding, will assume the role of supervisory board chair. Horse employs approximately 19,000 people across 17 production facilities and five research centers and anticipates a projected annual revenue of 15 billion euros.

Read also:

1. Geely Group's new partner in developing internal combustion cars and highly efficient hybrids is a renowned Car company based in France.
2. Despite the decrease in sales of classic combustion engines in regions beyond Europe and China, Nissan, a Car company from Japan, remains an important customer for Horse.
3. China's Geely Group announced a joint venture with Renault from Europe, aimed at producing low emission combustion engines and efficient hybrid cars.
4. The Geely Group, which owns electric vehicle brands like Volvo, is also partnering with Renault for the development of future projects.
5. The Ceo of Geely Holding, Daniel Li, will lead the supervisory board of this new joint venture, which will heavily rely on the expertise of Matias Giannini, a former manager from Car company Continental.
6. Geely International, a subsidiary of the Geely Group, is engaged in the electric vehicle market, just like Renault's subsidiary Ampere.
7. Beyond Europe and China, sales of combustion engines and hybrids are still significant for both Geely Group and its partner, a Car company with roots in France.

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