Renault is considering splitting into two companies, one for electric cars and one for thermal engines, with plans to acquire one of the world’s most valuable companies as a shareholder: Saudi oil giant Aramco. The Chinese from Geely may also enter a stake in the thermal engine division.
Sources cited by Reuters said Renault would own 40% of the new thermal engine unit, with Geely and Aramco holding 20% each. Saudi Aramco is the second most valuable company in the world after Apple with a capitalization of 2.2 trillion dollars.
In the spring, Renault said it was considering splitting into two entities: one to develop, manufacture and sell electric vehicles, and the other to develop and manufacture next-generation thermal and hybrid engines and transmissions. More details about the project will be announced in the fall. There will be many events for electric cars in France.
Each of the two new plants will have around 10,000 employees, and for the heat engine division, the French need partners to ensure the future of the various engine and gearbox plants, including in Romania.
This unit, which will ensure the development of thermal and hybrid engines, has the internal code name “Horse”.
Le Monde wrote that Aramco will cooperate with Renault on the development of synthetic fuel for internal combustion engines. Aramco has a research center near Paris.
And other big car companies, such as Ford, want to create separate divisions for electric cars, the idea is to raise capital faster, increase market value and stop production of cars with gasoline and diesel engines in the next 20 to 30 years.
Source: Hot News RO
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