Renaulution Transformation at Renault Group And Geely’s Conversion to Intelligent E-Mobility Services

Geely car maker recently inked a framework agreement with Renault Group to create the best production line for hybrid and internal combustion engines (ICE) powertrains.

The new partnership offers 50-50 equity stakes which plans to operate as a standalone supplier of systems and components for propulsion systems. More to that, the French automaker and Chinese conglomerate agreed to hire around 19,000 people worldwide and build 17 powertrain plants across 3 continents.  

Following next, it will produce over 5 million combustion engines, hybrid, and plug-in hybrid powertrains as well as transmissions per year supplying 130 countries and regions. Ultimately, the joint venture’s portfolio could cover up to 80 percent of the global internal combustion engine market.

Then, the new company intends to produce and supply next-gen hybrid powertrains to numerous car brands such as Renault, Dacia, Geely, Volvo, Lynk & Co, Proton, Nissan, and Mitsubishi. This effort also continues to develop emissions-free technologies at five R&D centres around the globe.

Renault Group CEO Luca de Meo has stated that as Renault Group accelerates with its Renaulution transformation to capture value on the entire new automotive value chain, the company is pleased to have agreed plans for an ambitious partnership with Geely.

The collaboration aims to develop ICE and hybrid engine technologies which it sees as an important part of the automotive supply chain for decades to come. Next, the firm also promises to offer best-in-class powertrain and electrified solutions to multiple OEM brands worldwide, unleashing the market potential for this low emission technology.

‘’Recent agreement with Renault Group enables the creation of a global leader in hybrid technologies to provide highly efficient advanced solutions for automakers around the world’’ commented Geely Holding Group Chairman, Eric Li.

As forecasted, the new agreement should start next year in 2023 and more updates will be shared over upcoming months.