. “Our planned collaboration with Geely and Renault would support the development of powertrains across the automotive industry, and aligns with our broader efforts across our global operations.”
It is unclear how large Aramco’s stake in the company will be. Reports from January indicated that Aramco would take a 20 per cent stake in the venture while both Geely and“This partnership with Aramco will raise our joint powertrain company together with Geely Group to the next level and give it a head start in the race towards ultra-low-emissions ICE powertrain technology,” Renault Group chief executive Luca de Meo added.
Why is an oil company investing in an ICE one? What are they interested in promoting, the continuation of the status quo? The oil industry is crazy to promote synthetic fuels as if they're the solution for fossil ones, both burning & emitting CO2 & NOx (and a lot other stuff) 👎