Interest in electric vehicles is still growing, but the market is lagging further globally than optimists thought two years ago. Therefore, a number of car manufacturers have announced the continued development of fossil engines, in order to provide cars that people will buy, too, in the coming years.
– The transition to fully electric cars is determined by the market and customer desires. We have to listen to customers, for example, a Mercedes spokesman told German newspaper Automobilwoche. Car manufacturer Recently announced They have halted the development of the MB.EA Large electric vehicle platform.
Last week, Toyota, Mazda and Subaru also made the announcement You will develop completely new internal combustion enginesThis time there are two other giants – the French Renault and the Chinese Geely, which are announcing a major cooperative project.
It promises very low emissions
The two companies are collaborating to develop new ultra-efficient gasoline and hybrid engines, with associated ultra-low emissions. In addition, they will develop engines that will be able, among other things, to use synthetic fuels and hydrogen.
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The goal is to produce up to five million engines annually, in the coming years, Reuters wrote.
“Combining different powertrains is essential to successfully achieving decarbonisation in a world where more than half of vehicles produced are expected to still be based on internal combustion engines by 2040,” a joint statement issued by the two companies said.
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“Working with a leading company like Geely to create a new player with the capacity and experience to develop ultra-low-emission combustion engines and highly economical hybrid solutions is key to the future,” says Renault Group CEO Luca de Meo.
Buying a used car can be scary
A different country: Norway leads the way in electrification of the car fleet. In other markets the situation is different.
Half special each
The new joint venture has been named HORSE Powertrain, with both automakers each holding a 50 percent stake.
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The headquarters will be based in London, and will supply the group's own brands and third-party manufacturers. The company's annual turnover is expected to reach approximately NOK 170 billion.
Among others, Geely is behind car brands such as Volvo, Polestar, Lotus and Zyker, while Renault also owns Dacia – a brand that will, for now, only deliver combustion-engined cars.
Read more: Toyota with bleak outlook for electric cars
This article was first published on broom
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