FILE PHOTO: A Renault logo is pictured in Brussels, Belgium March 4, 2024. REUTERS/Yves Herman/File Photo
FRENCH automaker Renault 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.
The 50-50 venture is a core element of Renault's strategy to stay in the race against larger competitors by signing multiple partnerships to reduce costs and access new markets.
