Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Geely Automobile Takes Stake In Renault Korea For $200M: Reuters

Geely Renault Nasdaq RNLSY United States Alphabet Inc Busan Renault SA South Korea Waymo
  • China's Geely Automobile is set to acquire over a third of Renault SA (OTC:RNLSY) Korea unit for about $200 million, Reuters reported.
  • The move is expected to boost Renault's U.S. exports and make way for investment in its electric business.
  • Geely's stake deal follows an announcement by the two companies in January to develop hybrid vehicles for South Korea and abroad.
  • Renault's factory in Busan, South Korea, can assemble 300,000 vehicles a year.
  • The report noted Geely might initially use the Busan plant to make electric robotaxis for Waymo, Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) self-driving unit.
  • Price Action: RNLSY shares closed lower by 2.78% at $4.69 on Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
“I love Bowie, but I was a kleptomaniac. I couldn't help it!": Sex Pistols guitarist Steve Jones remembers the night he stole David Bowie’s gear
Jones made his move after one of Bowie’s legendary Ziggy Stardust gigs
MusicRadar
MusicRadar
“I looked back, and Paul's got one of my guitars, and he's kind of messing around with it, right? And I'm mixing, so I said, 'Well, if you're going to be in here, why don't you help me mix this?'”: Richie Sambora on the day he met Paul McCartney
Beatle legend helped mix a track on Bon Jovi live album
MusicRadar
MusicRadar
“Very Creepy”: Katy Perry Fan Sparks Fury By Pulling Her Hair Extension And Allegedly Framing It
“I’d sell it and then never need to work again." The post “Very Creepy”: Katy Perry Fan Sparks Fury By Pulling Her Hair Extension And Allegedly Framing It first appeared on Bored Panda.
Bored Panda
Bored Panda
As Arcane nears its end, its creators tease the Black Rose is still 'an integral part of season 2', but they won't confirm if the group is the hit Netflix show's main villain
Arcane's showrunners haven't ruled out the possibility of some Black Rose members making physical appearances in season 2's last three episodes.
TechRadar
TechRadar
As AI and megaplatforms take over, the hyperlinks that built the web may face extinction
The original idea for the world wide web emerged in a flurry of scientific thought around the end of World War II. It began with a hypothetical machine called the “memex”, proposed by US Office of Scientific Research and Development head Vannevar Bush in an article entitled As We May…
The Conversation
The Conversation
Beyonce to Perform Halftime Show of Netflix's NFL Ravens-Texans Christmas Day Game
Beyonce will be giving a performance at halftime during the Christmas Day clash between the Houston Texans and Baltimore Ravens, streamed on Netflix.
Sports Illustrated
Sports Illustrated
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play