Geely, Renault Group sign agreement to create leading powertrain technology company

Geely and Renault Group have signed a non-binding framework agreement to create a new global leader to develop, manufacture and supply best-in-class hybrid powertrains and highly efficient ICE powertrains. Under the framework agreement, Geely and Renault Group will hold respective 50-50 equity stakes in the new company. The new company will be a standalone global