The transition to EVs is creating an opportunity that Saudi Aramco aims to capitalise on
Renault CEO Luca de Meo described the deal as creating a “dream team” that would “reinvent” the future of combustion-engine and hybrid technologies
The energy giant signed a letter of intent in March 2023 with a view to possibly becoming a minority shareholder in the JV
The system will be available with the future Renault 5, which is expected to go on sale next year
Aramco will be a minority stakeholder in the venture while Geely and Renault are expected to retain equal equity stakes
The partnership will also help Airbus develop tech linked to hybrid-electric aircraft
The Japanese carmaker has had a rocky year that has brought it to the brink. However, a four-year transformation strategy has plotted out an aggressive turnaround plan. Here’s what to expect in the Middle East
Renault shares have fallen 47 per cent this year
Prince Alwaleed Bin Talal Alsaud, founder and chairman of Saudi’s Kingdom Holding Company, topped the list