Aramco may take stake in Renault’s future thermal engine business: Source

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Thu, 2022-09-01 14:40

PARIS: Saudi Aramco could take a stake in the future thermal engine business that Renault plans to separate from its electric vehicle division, a source familiar with the matter said on Thursday.

Reuters reported on Tuesday that China’s Geely Automobile Holdings and an oil group were in talks over taking stakes in the fossil-fuel engine business.

Renault’s alliance partner, Japanese carmaker Nissan , does not plan to take a stake in the combustion engine business, two sources said.

The Saudi state oil company declined to comment.

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