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Geely and Renault joint venture will develop internal combustion and hybrid tech

China's Geely Automobile Holdings and French car maker Renault SA on Tuesday said they will invest up to 7 billion euros ($7.71 billion) in a new equally held joint venture to develop gasoline engines and hybrid technology for automobiles. The JV is aimed at manufacturing more efficient internal combustion engines and hybrid systems at a time when the focus of much of the automobile industry has been on the capital-intensive transition to purely electric vehicles. "We are pleased to be embarking on this journey to become a global leader in hybrid technologies, providing low-emission solutions for automakers around the world," said Eric Li, Geely Holding Group chairman. The new company will employ 19,000 people at 17 engine plants and five research and development hubs, Renault said. At launch, it is expected to supply to multiple industrial customers including Volvo, Proton, Nissan, Mitsubishi Motors, and PUNCH Torino. The JV aims to have an annual production capacity of up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions, Renault added. Reuters reported in March that the new venture will see 15 billion euros ($16.53 billion) in annual revenue. Saudi Aramco, which signed a letter of intent with Renault and Geely in March, is evaluating a strategic investment in the new company, Renault said. The Saudi oil producer has been involved in advanced discussions to take a stake of up to 20% in the JV, sources said earlier this year. Big oil firms have worked with automakers to develop sustainable fuels and hydrogen engines in recent years. But a deal here would make Aramco the first major oil producer to invest in the car business. The joint venture is expected to be launched in the second half of 2023. Earnings/Financials Green Mitsubishi Nissan Volvo Renault

Half of Chinese car buyers won't shop Japanese over hard feelings

The hard feelings between China and Japan is no real secret. Besides modern-day disputes, the two countries have had a long-running enmity that dates back to well before the atrocities of World War II. All things considered, then, it shouldn't be a shock that half of Chinese car buyers wouldn't consider a Japanese car. This survey, conducted by Bernstein Research, found that 51 percent of 40,000 Chinese consumers wouldn't even consider a Japanese car – which, again, isn't really surprising, when you consider stories like this. According to Bernstein, the most troubling thing is the location of these sentiments – smaller, growing cities where the population is going to need sets of wheels. We imagine it wouldn't be as big of an issue in traffic-clogged Shanghai or Beijing, but these small cities are going to become a major focus for automakers. "Nationalistic feelings are an impediment. [Japanese] premium brands will struggle," analyst Max Warburton wrote in a research note, according to The Wall Street Journal. Things will improve for Japanese makes, although China will remain a challenge, with Warburton writing, "the one thing that comes out most clearly is that most Chinese really want a German car. While we expect Japanese brands to continue to recover market share this year, ultimately the market will belong to the Germans." There are a few other insights from the study. According to WSJ, Japanese brands are viewed better than Korean brands, and they're seen as more comfortable than the offerings from Germany or the US, despite the fact that everyone in China apparently wants a German car. This is a tough position for the Japanese makes to be in, as there's really not a lot they can do to win favor with Chinese buyers. It will be interesting to see how this plays out, particularly as the importance of the PRC continues to increase year after year. News Source: The Wall Street Journal - sub. req.Image Credit: Kazuhiro Nogi / AFP / Getty Images Honda Mazda Nissan Toyota Car Buying

A journey to our driving future | Autoblog in Japan

TOKYO — We here at Autoblog recently went to Japan to drive cars, ride trains and talk to people about the past and future of mobility. In 1964, Japan hosted the Summer Olympics. To showcase to the world how far they had come since WWII, Japan launched its latest marvel in mobility, the Shinkansen (or as we call it, the Bullet Train). In 2020, Japan is hosting the Summer Olympics in Tokyo, and this time the nation is prepared to showcase a huge push toward autonomous cars. Green Editor John Beltz Snyder, Senior Producer Christopher McGraw and Associate Producer Alexander Malburg traveled there to get a sense of the country's transportation ecosystem with the 2020 Games on the horizon, and we filmed the experience along the way. In this series of videos, you'll see us try out car features that aren't yet available in the U.S., talk to an expert at Nissan about electric and autonomous mobility, ride the incredibly fast Shinkansen bullet train between Tokyo and Kyoto, pay homage to Soichiro Honda — and Ayrton Senna — at the Honda Collection Hall at Twin Ring Motegi, and see some beautiful and historic sites along the way. Here's what we'll be showcasing from our trip to Japan. Check back here as we update the list with links to all the videos: Driving a Subaru WRX equipped with EyeSight with Touring Assist Reviewing the 2018 Nissan Leaf on the roads of Japan Testing ProPilot Park on the Nissan Leaf Talking with Nicholas Thomas, Nissan's director of electric vehicles How to ride the Shinkansen in Japan (We love trains!) Touring the Honda Collection Hall at Twin Ring Motegi Check out the travelogue video at the top of this page for a taste of what's to come, then join us for a journey to Japan, Autoblog style. Related Video: Auto News Green Honda Nissan Subaru Green Driving Technology Autonomous Vehicles Electric Videos Original Video