Renault Signs MOU With PUNCH Torino For Low-Emission Diesel Engines

Renault ADR RNLSY and PUNCH Torino, a center of excellence for propulsion systems and electronics, have signed a binding Memorandum of Understanding (MOU) for low-emission diesel engines.
Under the terms of the agreement, PUNCH will purchase, use and sell the current and future Renault 4-cylinder Diesel engines.
The collaboration is based on the long-term experience of Renault Group in the engines’ production and the expertise of PUNCH Torino as reference of advanced low emission diesel propulsion systems and electronics.
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The partnership on low-emission diesel engines for LCVs, will be brought by Renault Group to the Horse project business announced during its Capital Market Day.
Production of engines for the partners needs will be based at Renault Group’s Cléon plant in Normandy, France.
PUNCH will benefit from the long-term experience of Renault Group in the engines’ production and the technical skills of Cleon’s teams.
Renault Group will benefit from PUNCH Torino’s extensive engineering competence in engines’ development.
This agreement will set the foundation for potential future cooperation between the parties, including hydrogen-fuelled internal combustion engines.
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Price Action: RNLSY shares closed lower by 1.31% at $7.56 on Monday.
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