PARIS, Jan 10 (Reuters) – Renault announced on Tuesday the signature of a partnership with the Belgian-Italian specialist in propulsion systems Punch Torino in diesel engines for commercial vehicles, continuing its strategy of external alliances in its historic activity of thermal engines to better concentrate its forces on electricity.
“Under the terms of this agreement, Punch will be able to buy, use and sell Renault’s current and future 4-cylinder diesel engines,” the diamond group said in a statement. “This partnership will be brought by Renault Group to the Horse project announced during its Capital Market Day.”
The diesel engines affected by the agreement are manufactured at the French car manufacturer’s Cléon plant in Normandy.
Renault has decided to separate its activities between electric and thermal by creating with the Chinese Geely an equipment supplier held equally for thermal and hybrid engines, called “horse project”.
He would like his partner Nissan to invest in the other entity, called “Ampère” and dedicated to electricity, but the discussions, which are part of broader negotiations on the future structure and scope of the Franco- Japanese, have still not succeeded.
Coming from GM Powertrain Europe, Punch Torino belongs since February 2020 to the Belgian group Punch Group. It employs 1,750 people at seven sites in Europe and Asia with an annual turnover of more than 650 million euros. (Gilles Guillaume and Dominique Vidalon, edited by Blandine Hénault)
click here for restrictions
©2023 Reuters