The French and Chinese automakers will develop and produce internal combustion engines for their own products as well as for other automakers.
A unit called Power will continue the work of developing internal combustion engine vehicles and hybrids for the Renault, Dacia and Renault LCV commercial vehicle brands. Power’s business activities will be known as project Horse.
Partnership ecosystems will be created to enable future growth, Renault said.
Ampere, the EV-focused company, will be listed on the Euronext Paris stock exchange in the second half of 2023 with Renault holding a large majority of its capital. It could count Qualcomm Technologies as one of its major investors, the statement said.
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