Renault and Geely have signed a joint venture agreement creating a new $7.7 billion company tasked with developing hybrid powertrains and more-efficient internal combustion engines. The two automakers each get a 50% stake in the joint venture, according to a Renault press release. The agreement follows a letter of intent signed by Renault, Geely... $7.7B Renault-Geely venture seeks to challenge Toyota on hybrids
Renault and Geely have signed a joint venture agreement creating a new $7.7 billion company tasked with developing hybrid powertrains and more-efficient internal combustion engines. The two automakers each get a 50% stake in the joint venture, according to a Renault press release. The agreement follows a letter of intent signed by Renault, Geely...