Renault and Geely teamed up to create a hybrid engine and a combustion giant.

French Renault And the Chinese jelly announced Creation of a joint company that will be responsible for the production and development of the latest hybrid systems for the entire world. he is joint project, which will be based in London, It produces 5 million engines annually among combustion, hybrid and plug-in hybrids for more than 130 markets.

like he did stronghold In March of this year, Renault has divided its operations It created two independently operating companies: One is for electric models and another for combustion models.

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The first will be assembled in the new company Ampere , Although the cars will continue to be sold under the Renault, Dacia or Alpine brand, which, in turn, It was released to the public in 2023. While that, Combustion models will be standardized in Energy, The other section in which my generation is, Owner of Volvo, Smart Corporation and major shareholder of Mercedes-Benz, You will share with Renault in equal parts.

for this part, Ampere to focus its projects in Europe, With the launch of the new R4 and R5, as well as the new Scnic and the continuity of Megane. While The force attacks the markets of Asia, China and Latin America With the Bigster and two other new models yet to be announced.

In addition, from Power they will supply to various customers, including: Renault, Dacia, Geely Auto, Volvo Cars, Lynk & Co, Proton, and also Nissan and Mitsubishi Motors. Also, in the future, “The association can also offer powertrain technologies to outsourcing car brands.”

With this new division, Renault intends that the new company will be a “global, independent supplier of the next generation of hybrid powertrains, In addition to developing carbon-neutral and low-emission technologies in five global research and development centers.”

For his part, Eric Lee, President of Geely, noted that “the agreement with Renault Group Allowing the creation of a world leader in hybrid technologies Provide advanced high-efficiency solutions for car manufacturers around the world.

renovation plan

Since Luca de Meo took the helm at Renault in 2020, the CEO has made it his number one goal to be the French group. Return to profit and be profitable. This means that It expects it to go from the current 5% operating margin it will have in 2022, to 8% by 2025 and 10% by 2030, according to Reuters.

in this way, Renault expects to be able to cover up to 80% of the global combustion engine market. The French factory has an ambitious expansion plan for the future called renewal, which was introduced early last year. This is the division of the diamond company into four different brands that will operate on four different lines: Renault modernity and innovation Dacia smart shopping, Alps Electro sportsmanship and crowd joint mobility.

“This ambitious partnership with Geely was aimed at further developing internal combustion engine technologies and hybrid engine technologies. And it will remain an important part of the automotive supply chain for decades to come. We will be able to offer best-in-class electrical and motor solutions to many original equipment manufacturers (OEM) brands around the world, unleashing the market potential of this low-emissions technology,” said De Meo.