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Geely and Renault engineer new model for old tech

November 11, 2022
Source: reuters.com reuters.com
News Snapshot:
HONG KONG, Nov 9 (Reuters Breakingviews) - As automakers hesitate to invest in legacy motors, China’s Geely and France’s Renault (RENA.PA) are teaming up to supply gas guzzlers and more to rivals. It’s a promising idea. The plan creates room to accelerate the industry’s electrification. Founder Li Shufu wants new-energy vehicles to account for 50% of Hong Kong-listed Geely Automobile’s (0175.HK) sales next year. Renault boss Luca de Meo says European car sales at the company he leads will be 100% electric by 2030. Automakers expect to splurge more than $1 trillion through 2030 to develop and produce electric cars,...
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