The Saudi oil tycoon Aramco will arrive in the hub of Renault’s thermal division, which specializes in clean powertrains.
The future at Renault is split into two key sectors. Via a joint venture operated with the Chinese company Geely, “Horse” will concentrate on the complete thermal component while “Ampère” will be in charge of developing the full electrical component.
The announcement from last November might also include Aramco. The Saudi group has agreed to join the structure as a minor shareholder by signing a letter of intent. While Aramco’s shareholding is not yet known, Renault claims that it will continue to hold equal shares with Geely in the new arrangement.
Hybrid fuels and synthetic fuels
The investment from Aramco will help the business boost its R&D initiatives, which include “synthetic fuels and next-generation hydrogen powertrains,” according to a joint statement from the different partners.
“The powertrain business we are creating with Geely Group will advance thanks to this relationship with Aramco. It will give it an advantage in the quest for thermal technology with extremely low emissions. Aramco’s participation adds special expertise to create ground-breaking advances in hydrogen and synthetic fuels, “said Groupe Renault CEO Luca de Meo.
In the future, “Horse” will unite a global network of 17 powertrain factories and 5 R&D facilities over 3 continents.