Aramco Signs Letter of Intent with Geely and Renault Group for New Powertrain Company to Focus on Lower Emission Technologies
Aramco has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company, to be established by Geely Holding Group, Geely Automobile Holdings Limited — collectively referred to as “Geely” — and Renault Group. The new company will be dedicated to internal combustion and hybrid powertrain technologies.