People familiar with the matter revealed that French car manufacturer Renault and Chinese auto manufacturer Geely Holdings Group are finalizing an agreement to introduce Saudi Arabian national oil producer Saudi Arabic as investors and partners to jointly develop and supply togetherGasoline engine and hybrid technology.
Three people familiar with the matter reported on Tuesday (January 17) that Saudi Arabia has participated in in -depth discussions and plans to buy Geely and Renault.Up to 20%of the shares.
Reuters reads the relevant documents prepared by the above company. This power assembly technology company will be established this year, with an annual output of more than 5 million sets of "low -emission hybrid engines and transmission."
People familiar with the matter said that after Saudi Arabia's shares, Renault and Geely will occupy 40%of the equity in this joint venture.Assets will be added to the joint venture project.
Renault and Geely did not comment, and Saudi Amy did not immediately respond to Reuters' comment request.
