Renault & Geely Automobile Ink JV Deal To Create Powertrain Technology Giant
Portfolio Pulse from Lekha Gupta
Renault SA (RNLSY) and Geely Automobile Holdings Ltd (GELYF) have signed a joint venture (JV) deal to launch a new powertrain technology company. The new company will have 17 engine plants and 5 R&D centers across three continents. Both companies will hold 50% of the new entity, which aims to become a leader in manufacturing and supplying hybrid powertrains and highly efficient ICE powertrains. The deal is expected to close in H2 2023.
July 11, 2023 | 10:16 am
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Geely Automobile has signed a JV deal with Renault to launch a new powertrain technology company. The deal is expected to close in H2 2023.
The JV deal with Renault is a significant strategic move for Geely Automobile. It will allow the company to expand its powertrain technology capabilities and potentially increase its market share in the hybrid and ICE powertrain markets. This could have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Renault has signed a JV deal with Geely Automobile to launch a new powertrain technology company. The deal is expected to close in H2 2023.
The JV deal with Geely Automobile is a significant strategic move for Renault. It will allow the company to expand its powertrain technology capabilities and potentially increase its market share in the hybrid and ICE powertrain markets. This could have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100