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Geely Automobile Company is looking to use Renault engines in its products

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The Reuters news agency, citing its sources, reported that the Chinese automobile company Geely and a certain oil company are negotiating to buy a part of the engine production unit of the French automobile giant, Renault.

According to Reuters news agency, Renault plans to separate its conventional combustion engine business from electric vehicles. Thus, 40% of the shares of Renault’s combustion engine production unit will be purchased by Geely and the other 20% by an oil company. Finally, the control of 40% of this business will remain with the Renault group.

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According to reports, Renault is going to officially announce the creation of a special department for electric cars this fall. Currently, Geely and Renault companies have a lot in common. Therefore, the Chinese brand will help the French company to promote electric cars in China, and Geely will buy a part of Renault’s business in South Korea. This, in turn, will pave the way for Chinese access to the United States market.

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Adib

Adib Zahedi is the CEO and Founder of mazhd.com. He has nearly a decade of experience in IT, including two years spent working on a Youtube Chennal. He is also an author and writes articles for mazhd.com. Has articles include tutorials and covers everything from Windows PCs to smartphone's software.

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