9JUNE 2024TOP STORIESGEELY & RENAULT TO JOINTLY DEVELOP HYBRID ENGINESVIVO TO DOMESTICALLY MANUFACTURE FOLDABLE PHONESFrench automaker Renault and its Chinese partner Geely have formed a joint venture focused on developing combustion and hybrid engines. This 50-50 venture, named HORSE Powertrain, aims to bolster the competitiveness of its legacy auto business by reducing costs and expanding market reach through strategic partnerships.Renault's strategy includes signing multiple partnerships to stay competitive against larger rivals, while Geely is expanding its global footprint through collaborations. Previously, Geely entered into a hybrid gasoline engine development deal with Mercedes-Benz and holds a stake in the German automaker.The joint statement from Renault and Geely emphasized the necessity of combining various powertrain technologies to achieve successful decarbonization, noting that more than half of the vehicles produced by 2040 are expected to still rely on combustion engines.HORSE Powertrain will be headquartered in London and will not only supply engines to Renault and Geely's brands but also to third-party manufacturers. The business aims to generate about 15 billion euros ($16.2 billion) in annual revenue and produce approximately five million powertrain units per year. After achieving the top position in the Indian smartphone market in Q1, Chinese smartphone brand Vivo is set to launch its first-ever foldable smartphone in India. The device, named XFold3 Pro, aims to capture a share of the country's rapidly growing premium segment, directly competing with industry giants like Samsung and Apple.The XFold3 Pro will be assembled in India, utilizing some locally sourced materials at Vivo's new 170-acre factory, which is expected to be fully operational by the end of June. Scheduled for an early June launch, this foldable smartphone will be Vivo's first product priced over Rs 1 lakh, positioning it against Samsung's fifth-generation foldables and other high-end offerings from brands like OnePlus and Tecno.For its first foldable smartphone in India, Vivo has focused on enhancing the device's crucial hinge component and overall design, making it lighter and slimmer than its competitors. The XFold3 Pro adopts a book-shaped form factor similar to Samsung's flagship foldable, reflecting Vivo's commitment to delivering a premium user experience. By improving the hinge and optimizing the design, Vivo aims to provide a sophisticated, high-quality product that meets the expectations of discerning customers in the premium segment. This strategic move highlights Vivo's ambition to solidify its presence and expand its influence in the Indian smartphone market.
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