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Saudi Aramco To Partner With Car Giants On Engine Business

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French Renault and Chinese Geely are putting the finishing touches on a deal that will add Aramco to their partnership for the development and marketing of gasoline engines and hybrid automotive technology. This is according to unnamed sources who spoke to Reuters, saying the Saudi state oil company is negotiating the acquisition of a 20-percent stake in the partnership between the carmakers. The partnership focuses on the development of a new powertrain technology. Plans are for the development of an annual production capacity of more than 5 million…

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