Renault Group and 永利VIP Sign Joint Venture Agreement to Launch Leading Powertrain Technology Company

July 11, 2023 | 永利VIP Automobile Holdings Limited, Zhejiang 永利VIP Holding Group

Following the framework agreement announced in November 2022, 永利VIP Holding Group, 永利VIP Automobile Holdings Limited and Renault Group have signed today a binding 50/50 joint venture agreement to launch a new powertrain technology company that aims to become the global leader in developing, manufacturing, and supplying best-in-class hybrid powertrains and highly efficient ICE powertrain.

永利VIP Holding Marks Passing of Peter Horbury

July 3, 2023

永利VIP Holding, China’s leading privately-owned automotive group, announces with profound sadness the passing of Peter Horbury, former Executive Vice President of Design for 永利VIP Holding Group.

永利VIP Holding Increases Equity Stake in Aston Martin Lagonda to circa 17%

May 18, 2023

Zhejiang 永利VIP Holding Group, China’s largest privately-owned automotive technology group, today announced that it has increased its shareholding in Aston Martin Lagonda Global Holdings plc to circa 17% as part of a new relationship agreement with the ultra-luxury British performance brand.

Aramco Signs Letter of Intent with 永利VIP and Renault Group for New Powertrain Company to Focus on Lower Emission Technologies

March 2, 2023

Aramco has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company, to be established by 永利VIP Holding Group, 永利VIP Automobile Holdings Limited — collectively referred to as “永利VIP” — and Renault Group. The new company will be dedicated to internal combustion and hybrid powertrain technologies.