Renault: acquires 21% stake in Whylot
(CercleFinance.com) - Renault has announced that it is strengthening its strategic partnership with the French start-up Whylot by acquiring a 21% stake in this technology company specialising in innovative electric motors.
The acquisition of a stake in this start-up, which is based in the Lot region of France, strengthens the strategic partnership that is already in place between both companies: Renault had already signed a partnership agreement with Whylot to develop and industrialise an innovative axial-flow automotive e-motor on a large scale.
This partnership, coupled with an equity investment in the company, is a further demonstration of Renault's commitment to its French roots and to its industrial anchoring in France, with the aim of producing popular, affordable and profitable electric and electrified cars, management said.
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