Saudi Aramco and Chinese Geely ready to invest in Renault

Renault arrives in the home stretch of its two-headed reorganization. On the one hand, its combustion engine business will be housed in an entity codenamed “Horse.” On the other hand, those linked to electrification will be managed in “Ampère”.

In April, Thierry Pieton, the financial director, specified that the group had received “many expressions of interest from potential thermal partners“. The main purpose of this reorganization for Renault is to raise new capital, in order to cope with investments related to electrification, connectivity… which are currently unaffordable for the French manufacturer.

While this scheme has not yet been formalized, the names of future investors alongside Renault in Horse are emerging. Reuters quoted Chinese automaker Geely on Wednesday and “an oil group“. Le Monde clarified this Thursday the name of the latter: it is the Saudi giant Aramco. Renault does not make…