Geely, Renault Ink Deal To Develop Powertrain Technology
"We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman.
According to Renault, the new company will have 19,000 employees working in 17 engine plants and 5 R&D hubs. It is anticipated that it will initially serve a variety of industrial clients, including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino.
According to Reuters, the new business will generate annual revenues of $16.53 billion.
According to Renault, Saudi Aramco, which signed a letter of intent with Geely and Renault in March, is considering making a strategic investment in the new business. 
The Saudi oil producer was engaged in advanced negotiations to take a stake of up to 20% in the JV said sources. In recent years, major oil companies have collaborated with automakers to create hydrogen engines and sustainable fuels. But if a deal were to be reached here, Aramco would become the first significant oil producer to invest in the auto industry.
The launch of the joint venture is anticipated for the second half of 2023.
Gallery
Written By
Anis
Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........
JPJ Running Numbers
KUALA LUMPUR
VQW3491
SELANGOR
BSP5974
JOHOR
JYV8062
PULAU PINANG
PSB8433
PERAK
APH1625
PAHANG
CFG3890
KEDAH
KGF6251
NEGERI SEMBILAN
NEK2873
KOTA KINABALU
SJR6782
KUCHING
QAB6941N
Last updated 03 May, 2026
Fuel Price
Petrol
RON 95
RM 3.97
+1.38
RON 97
RM 4.90
+1.75
RON 100
RM 7.20
+2.20
VPR
RM 8.23
+2.00
Diesel
EURO 5 B10
RM 5.12
+2.08
EURO 5 B7
RM 5.32
+2.08
Last updated 30 Apr, 2026
Latest News
Tech Meets Elegance: LEPAS Just Dropped L6 & L4 Globally, Coming To Malaysia Soon?
Chery's new LEPAS brand debuts at Auto China 2026! Discover the L6 & L4 EVs featuring "Leopard Aesthetics," a Super AI Agent, and valet parking tech.
28-04-2026
How Did Zeekr 8X Get 10,000 Orders In 30 Minutes? Here Are The "Mindblowing" Reasons
10,000 orders in just 29 minutes?! We dig into why the world's fastest hybrid SUV, the Zeekr 8X, is causing a total frenzy.
21-04-2026
Geely’s Thai Assembly Move: The Final Nail in the Proton Export Coffin?
Geely consolidates in Thailand with a new assembly plant and the "One Geely" strategy. Is the RM32b AHTV enough to keep Proton as the RHD hub for ASEAN?
25-03-2026
Chinese Carmakers Still Lag Global Leaders - GWM Chairman
GWM’s chairman says Chinese automakers must focus on quality and long-term competitiveness despite rising exports and sales growth.
20-02-2026
2026 Audi RS5 Unveiled as Brand’s First High-Performance PHEV
The all-new Audi RS5 breaks cover as the brand's first high-performance plug-in hybrid model with up to 630 hp.
20-02-2026
2026 Toyota RAV4 PHEV Debuts in Japan with Special GR Sport Version
Toyota has completed the sixth-gen RAV4 lineup in Japan by debuting the PHEV version along with the GR Sport variant.
20-02-2026
BMW M Plans to Launch 30 New Models by 2030 – Report
BMW’s M division is going into full assault mode by planning to launch 30 new models by the end of this decade.
19-02-2026
China Plans to Mandate Physical Controls in Cars, Bans Yoke Steering Wheel
The Chinese government is planning to require physical controls for key functions in cars while banning yoke steering wheels.
16-02-2026
Show More
trending_flat