Saudi Arabian Oil Company (SASE:2222) could take a stake in the future thermal engine business that Renault Renault SA (ENXTPA:RNO) plans to separate from its electric vehicle (EV) division, a source familiar with the matter said on September 1, 2022. Reuters reported on August 30, 2022 that China's Geely Automobile Holdings Limited (SEHK:175) and an oil group were in talks over taking stakes in the fossil-fuel engine business. Renault's alliance partner, Japanese carmaker Nissan Motor Co., Ltd. (TSE:7201), does not plan to take a stake in the combustion engine business, two sources said.
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