Engine manufacturing consolidation

https://www.btimesonline.com/articles/158114/20230329/geely-to-contribute-eight-chinese-one-swedish-powertrain-plants-to-joint-venture-renault-saudi-aramco.htm

Geely and Renault are combining their engine development and manufacture into a joint venture. Engine also includes the hybrid and PHEV systems. I'm assuming this is to reduce costs for ICE production as BEVs are being phased in.