French automotive conglomerate Renault Group and China’s Geely Holdings announce details included in a framework agreement for the creation of a new global powertrain company, a company they say will becommitted to the development, manufacture and supply of internal-combustion engines, including both mild-hybrid and plug-in hybrid applications.
The 50:50 joint venture is intended to design and manufacture powertrains at up to five R&D centers and 17 production plants on three continents, employing a total of about 19,000 workers.
Renault and Geely say the powertrains developed and manufactured by the new JV will feature in vehicles sold in over 130 countries.
The first recipients of the new powertrains will be Renault Group and Geely Holding brands Dacia, Geely, Volvo, Lynk & Co and Proton, as well as the Renault Group’s alliance partners Nissan and Mitsubishi.
In a joint media statement, the Renault Group and Geely Holdings confirm plans also exist for the supply of powertrains to third parties.
As part of the realignment of its powertrain operations, the 33% stake held by Volvo in Swedish-based powertrain specialist Aurobay will divest to Geely Holding. Aurobay will subsequently become part of the JV company operated by the Renault Group and Geely Holding.
The Renault brand has committed to becoming fully electric in Europe by 2030, indicating that the powertrains to be developed by the new JV company will be used primarily in vehicles destined for China, Latin America and North America.
Coinciding with the announcement of its plans to join forces with Geely on the development, manufacture and supply of internal-combustion engines, the Renault Group also makes public a new electric-vehicle division called Ampere.
Described by CEO Luca de Meo as being a key part of the Renault Group’s so-called Renaulution transformation, Ampere will focus on the development and manufacture of EVs, as well as the French automaker’s software activities.
Ampere is described as a manufacturer in its own right and will sit alongside Renault, Alpine, Dacia and mobility brand Mobilize in a newly expanded Renault Group portfolio.
Ampere is planned to employ up to 10,000 workers, including 5,000 software specialists and 3,500 vehicle engineers.
The Renault Group says its new EV division already is earmarked to develop and manufacture up to six models to be launched under the Renault brand before 2030, including the existing Megane Electric and the upcoming Renault 5 Electric, Renault 4 Electric and Scenic Electric.
Two further models are yet to be announced.
De Meo says Ampere aims to manufacture and sell up to 1 million Renault Group EVs in 2031.
The Renault Group’s Alpine brand also will have access to Ampere’s intellectual property.
Plans are afoot to float Ampere on the Paris Stock Exchange in 2023.
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