Renault Group announces that on September 30, 2021 it acquired a 21% minority stake in Whylot, a company based in the Lot region of France that has developed a unique technology in the promising sector of innovative electric motors. This acquisition of a stake in the French start-up reinforces the existing strategic partnership between the two companies.
Announced in June 2021, Renault Group has previously signed a partnership with Whylot to develop and industrialize on a large scale an innovative axial flow automotive e-motor. This technology will be applied to electrified and electric powertrains, with the objective in particular in hybrid powertrains of reducing costs while saving CO2 emissions of 2.5 g/km of CO2 according to the WLTP standard (for passenger cars in segments B/C). Renault Group will be the first mainstream manufacturer to produce an axial-flow electric motor on a large scale from 2025.
We are delighted to take a further step in our relationship with Whylot, a promising start-up specialising in the design and development of high-tech electric motors. This partnership, coupled with an equity investment in the company, is a further demonstration of our commitment to our French roots and to the Renault Group's industrial anchorage in France, with the aim of producing popular, affordable and profitable electric and electrified cars, says Philippe Brunet, Director of Powertrain and Electric Vehicles, Alliance.
This equity investment will enable Renault Group and Whylot to position themselves in the coming years as leaders in the development and industrialization of innovative and affordable electric motors and to support the very strong growth of the electrified vehicle market in France and Europe.