Aramco signs LOI 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 (PWT), 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....