Renault: Horse Powertrain deal with Aramco will create 'dream team'
LUBEREF 2223.SA | 118.20 | -1.83% |
PARIS, June 28 (Reuters) - Renault RENA.PA chief executive Luca de Meo said on Friday that a deal with Saudi company Aramco 2223.SE, whereby Aramco will buy 10% in Renault and Geely's Horse Powertrain joint venture, would create a 'dream team'.
"Decarbonising the automotive industry won’t be a solo play. It requires the best players to join forces to open new paths and come up with innovative solutions. That is what’s happening today as we welcome Aramco as a strategic partner in HORSE Powertrain Limited. A dream team is born to reinvent the future of ICE and hybrid technologies," said de Meo in a statement.
(Reporting by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com;))