China's Geely Automobile Holdings and an oil group are seeking to take stakes in the fossil-fuel engine unit Renault, which plans to separate from its electric vehicle (EV) business.
Renault's alliance partner, Japanese carmaker Nissan, will not take a stake in the combustion engine unit.
Renault is expected to reveal plans for an EV-specific unit in France this autumn, as well as another in Europe that will bring together all of its petrol and hybrid engine and transmission production sites in Spain, Portugal, Turkey, Romania, and Latin America.
The French automaker intends to keep a majority stake in its "Ampère" electrical division, which will employ around 10,000 people and could go public in the second half of 2023.
However, it will retain only a minority stake in its "Horse" combustion engine business, which will employ a similar number of people but will remain a reference shareholder with significant clout in the unit.
According to sources, Renault would own 40 percent of the fossil-fuel engine unit, while Geely would own 40 percent and an oil company would own the remaining 20 percent.


FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
Thousands of satellites are due to burn up in the atmosphere every year – damaging the ozone layer and changing the climate
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing
As the Black Summer megafires neared, people rallied to save wildlife and domestic animals. But it came at a real cost
How is Antarctica melting, exactly? Crucial details are beginning to come into focus
Lake beds are rich environmental records — studying them reveals much about a place’s history
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Parasites are ecological dark matter – and they need protecting
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
Instagram Outage Disrupts Thousands of U.S. Users
Washington Post Publisher Will Lewis Steps Down After Layoffs 



