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Renault gears up to go electric, Geely steps on the gas ...Qatar
As automakers prepare for an electric future, China’s Geely yesterday placed a bet on gasoline engines being around for years to come by agreeing a joint venture with Renault that will also include the legacy engine business of Geely’s Volvo Cars. The 50-50 venture, covering gasoline engines and hybrid technology, will aim to maximise sales by also supplying other automakers. While that will cut costs and help Renault free up resources to invest in its electric business, some analysts said the logic appeared somewhat different for Geely. “We wonder if there is a broader (Geely) plan to consolidate assets for internal combustion engines?” Bernstein analysts wrote in a client note. “There may
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