in as an investor and partner to develop and supply gasoline engines and hybrid technologies, three people with knowledge of the talks said.
That investment by Aramco would leave Renault and Geely with 40% each in the joint venture, which would combine a carve-out of the French automaker's existing combustion-engine production with Geely's gasoline and hybrid technology and related assets, the people told Reuters. The financial terms of the potential investment by Aramco in the joint-venture were not immediately known.
The people who described the outline of the deal being negotiated asked not to be named because it had not been announced.to study advanced fuels that could be use in hybrid engines to reduce a vehicle's reduce CO2 emissions.The oil company's deal with Geely and Renault still needs approval by the boards of the automakers, one of the people said. The three companies have been working to complete a letter of intent in coming weeks, according to one of the sources.
A strategic focus for the joint-venture will likely be on an advanced four-cylinder engine, two of the sources said.
The Aramco role will be as investor
Such collaboration will help stabilize the world economy
Maybe hidden Biden could look into this!! Another China deal!!
Why ?