PARIS, Jan 10 (Reuters) – Renault (RENA.PA) will team up with propulsion systems and electronics developper PUNCH Torino on 4-cylinder diesel engines for light commercial vehicles, the French carmaker said on Tuesday
PUNCH Torino will be able to purchase, use and sell the current and future Renault 4-cylinder Diesel engines, which will be produced at Renault’s Cleon plant in Normandy.
The deal on diesel engines comes after Renault’s sweeping overhaul of its businesses last November, saying it would set up a joint venture with China’s Geely (0175.HK) for gasoline engines and hybrid technology and would spin off its electric vehicles unit this year.
In the framework of the project with Geely, the Renault group’s engineering teams will keep developing low-emission diesel engines for light commercial vehicles and also collaborate with PUNCH engineering, the French carmaker said.
Renault is also trying to revamp its alliance with Nissan Motor (7201.T), aiming to convince its Japanese partner to invest in its new electric vehicle business.
PUNCH Torino, which is based in Italy, has been part of Belgium’s PUNCH Group since February 2020.
Reporting by Dominique Vidalon Editing by Gilles Guillaume and David Goodman
