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  3. Renault and Geely JV to challenge top players in powertrain technologies in long run, says GlobalData

Renault and Geely JV to challenge top players in powertrain technologies in long run, says GlobalData

20 Jul 2023
  • What is the aim of this agreement between Renault and Geely?

As the automobile industry is making rapid strides towards low-emission vehicles and traditional engines are experiencing a reduction in demand, synthetic fuel technologies are now in high demand. The new agreement between Renault Group and Geely to launch a new powertrain company will be a shot in the arm for both the companies in the global synthetic fuel powertrain and engine market when the new joint venture company starts its operations. 

The new joint venture between Renault Group and Geely

The new joint venture between Renault Group and Geely

The new joint venture will benefit from the synergies of the intellectual properties of both companies in developing future powertrain technologies. Although the new company will be focusing on primarily manufacturing internal combustion engine (ICE) engines, it is expected to drive new innovations in hybrid and electric vehicle (EV) powertrains and will be ready to provide end-to-end powertrain solutions to major automakers in three continents.

“Owning an electric vehicle has become a new fad all over the world, fuelled by increased consumer interest in sustainable living and the introduction of cars with greater driving ranges. Additionally, strict CO2 targets established by various governments for automakers, increased investments in charging networks by a variety of automakers and third-party companies, and an aggressive push by governments through catalyst programs like subsidies are all contributing to the demand for decarbonized automobiles.

“As per GlobalData estimates, the global electric vehicle market, including battery electric vehicles (BEVs) and hybrid vehicles (HEVs), will reach 103.5 million units by 2030, recording a compound annual growth rate (CAGR) of 3.1% during 2022-30. Considering the market potential of the decarbonized automobile and the growing global electric vehicle market, the new Renault Group and Geely company will pose a head-to-head challenge to global automobile companies like BYD and Tesla in the long run.”




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Julie Mehretu’s BMW Art Car Celebrates its World Premiere at the Centre Pompidou in Paris.

28 May 2024
Julie Mehretu’s BMW Art Car Celebrates its World Premiere at the Centre Pompidou in Paris.

The 20th BMW Art Car is being presented to the public for the first time today at the Centre Pompidou in Paris. Designed by renowned New York-based contemporary artist Julie Mehretu, the project transforms the BMW M Hybrid V8 racecar into a performative work of art, continuing a longstanding tradition of BMW Art Cars and competitive racing. Just a few weeks after its World Premiere in the French capital, the newest edition in the storied BMW Art Car collection will compete in the 24 Hours of Le Mans.

“The whole BMW Art Car project is about invention, about imagination, about pushing limits of what can be possible. I don’t think of this car as something you would exhibit. I am thinking of it as something that will race in Le Mans. It’s a performative painting. My BMW Art Car was created in close collaboration with motorsport and engineering teams,” says Julie Mehretu. “The BMW Art Car is only completed once the race is over.”

The collaboration between BMW and Julie Mehretu also includes a joint commitment to a series of PanAfrican Translocal Media Workshops for filmmakers, which will tour various African cities in 2025 and 2026, and will culminate in a major exhibition at the Zeitz Museum of Contemporary Art Africa in Cape Town.

“The BMW Art Cars are an essential part of our global cultural commitment. For almost 50 years, we have been cooperating with artists who are just as fascinated by mobility and design as they are by technology and motorsports. Julie Mehretu's vision for a racing car is an extraordinarily strong contribution to our BMW Art Cars series,” said Oliver Zipse, Chairman of the Board of Management of BMW AG. “Julie Mehretu has created more than an amazing Art Car. Her ideas provided the impetus for us to expand the cultural commitment of our Art Cars to promote the creativity of young artists in Africa.”