Renault, Geely create joint venture for hybrid, combustion engines
) and Chinese partner Geely announced a highly anticipated joint venture on Friday that will develop combustion and hybrid engines, aiming to improve the competitiveness of their legacy auto business.
For Geely, the deal extends its pattern of building partnerships to expand beyond China. Geely previously announced a hybrid gasoline engine development deal with Mercedes-Benz in annual revenue and production of about five million powertrain units a year, the automakers said. Giannini was a former global sales executive for Vitesco Technologies, a powertrain business spun off from automotive supplier Continental.
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