BOULOGNE-BILLANCOURT (dpa-AFX) - Renault Group said that it has signed two major partnerships in the field of the design and production of Electric Vehicles batteries.
Renault Group reached a strategic partnership with Envision AESC as it sets up a gigafactory in Douai, close to Renault ElectriCity, to support manufacture of batteries to make electrical mobility more accessible in Europe.
As the battery arm of global green tech company Envision Group, it will invest up to 2 billion euros to produce latest technology, cost-competitive, low-carbon and safe batteries for electric models, including the future R5, Renault said.
Renault Group also signed a Memorandum of Understanding with the French start-up Verkor to co-develop and then manufacture high-performance batteries, with a view of owning a more than 20% stake in Verkor.
Renault Group and Verkor intend to develop jointly a high-performance battery suitable for the C and higher segments of the Renault range, as well as for the Alpine models.
The combination of two partnerships with Renault ElectriCity industrial cluster will create about 4,500 direct jobs in France by 2030, while developing a robust battery manufacturing ecosystem in the heart of Europe, Renault said in a statement.
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