logo
  

Renault, Geely Sign MoU To Develop Hybrid Vehicles In China And South Korea

France's Renault Group and China's Geely Holding signed a memorandum of understanding to create a long term strategic partnership, which will initially focus on the development of hybrid vehicles in China and South Korea, the companies said in a statement.

In China, the companies will jointly introduce Renault-branded hybrid vehicles. Renault will contribute on branding strategy, channel and service development, defining appropriate customer journey.

In South Korea, the MoU allows Renault Group and Geely Holding to jointly explore localization of vehicles based on Lynk & Co's energy-efficient vehicle platforms for local markets.

The companies noted that they will enhance their competitive advantages in technology and industrial systems to create leading mobility experience.

In a separate press release, Renault Group and Vulcan Energy announced a five-year strategic partnership within the Zero Carbon Lithium Project, securing between 6,000 and 17,000 metric tonnes per year of battery grade lithium chemicals.

Renault noted that the agreement with Vulcan is in line with its strategy to offer competitive, sustainable and 'made in Europe' electric vehicles.

Th partnership with Vulcan Energy will allow Renault Group to avoid from 300 to 700 kg of CO2 for a 50 kWh battery.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Juul Labs, an e-cigarette maker, said it has reached settlements with more than 5,000 vaping lawsuits in the United States. The cases were related to personal injury, consumer class action, government entity, and Native American tribes. In a statement, the company said it cannot disclose the settlement amount at this time as part of the settlement and court process. Apple Inc. plans to start using American-made processors from the new advanced chip factory in Phoenix, Arizona operated by chip giant Taiwan Semiconductor Manufacturing Co., according to its Chief Executive Officer Tim Cook. At an event in the factory in Arizona, which was attended by U.S. President Joe Biden, it was also announced that TSMC will invest $40 billion in the new factory. Lidl US has recalled its 8.4 oz Favorina branded Advent Calendar, i.e., Premium Chocolate with a Creamy Filling, citing potential Salmonella contamination, the U.S. Food and Drug Administration said. The products were available for sale at Lidl stores between October 12, 2022 and December 5, 2022. They will have a BEST IF USED BY year of 2023, and barcode number of 4056489516965.
Follow RTT