Electric vehicle technologiElectric vehicle technology is improving rapidly. This is helping to reduce the disadvantages of EVs compared to traditional cars. However, it is still too early to rely on electric vehicles for all transportation needs. Geely has recognized this and has partnered with Renault to develop gasoline engines and hybrid technology.Here are the details…
Hybrid Vehicles Get a Boost as Geely and Renault Partner
Geely and Renault have announced a joint venture to develop gasoline engines and hybrid technology. The joint venture, which will be equally owned by Geely and Renault, will invest up to 7 billion euros and employ 19,000 people. The joint venture is aimed at manufacturing more efficient internal combustion engines and hybrid systems.
As you know, the automotive industry is increasingly shifting towards electric vehicles. However, hybrid vehicles are still a major part of the market, and the joint venture will help Geely and Renault to stay competitive in this segment. The joint venture is expected to be launched in the second half of 2023. Moreover, there is more…
Aramco Considers Investment in Geely-Renault Hybrid Joint Venture
Saudi Aramco, the Saudi Arabian state-owned oil company, is also considering a strategic investment in the joint venture. This would make Aramco the first major oil producer to invest in the car business. The investment from Aramco would help to finance the joint venture’s research and development efforts.
It is too early to say what the long-term impact of this joint venture will be. However, it is clear that the automotive industry is undergoing a major transformation. Hybrid technology is likely to play a role in this transformation. But we’ll have to wait and see what the future brings.
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