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China's Geely Auto to join Saudi Aramco to Renault JV
来源：shippingazette 编辑：编辑部 发布：2023/03/16 16:40:30
CHINA's Geely Automobile Holdings and France's Renault SA have moved one step closer to finalising a deal to bring Saudi Arabia's national oil producer on board as a partner in a venture to develop car engines based on gasoline, alternative fuels and hybrid technologies, reports Hong Kong's South China Morning Post.
Damman-based Saudi Arabian Oil Company (Saudi Aramco) has signed a letter of intent to acquire a minority stake in an existing joint venture set up by Shanghai-based Geely and Paris-based Renault, according to a filing with the Hong Kong stock exchange.
"Saudi Aramco's investment would support research and development across synthetic fuels and next-generation hydrogen technologies," Renault and Geely said in a joint statement.
Damman-based Saudi Arabian Oil Company (Saudi Aramco) has signed a letter of intent to acquire a minority stake in an existing joint venture set up by Shanghai-based Geely and Paris-based Renault, according to a filing with the Hong Kong stock exchange.
"Saudi Aramco's investment would support research and development across synthetic fuels and next-generation hydrogen technologies," Renault and Geely said in a joint statement.