As automakers hesitate to invest in legacy motors, China’s Geely and France’s Renault are teaming up to supply gas guzzlers and more to rivals. It’s a promising idea.
Joining up on fossil fuel powered vehicles makes sense too. These will contribute less to most automakers’ top line as policymakers demand cars are cleaner. But the numbers could stay significant for years or decades. Roughly 50 million internal combustion engine models were sold last year, per the International Organization of Motor Vehicle Manufacturers and the International Energy Agency.
By hitching itself to Renault, Geely can shift gears faster to make the most of the window of opportunity. Together, they sold nearly 5 million cars last year, most of which were internal combustion engines. Renault, for its part, will benefit from connections to Geely’s export markets, which include developing countries where electrification could be slower.
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