-Valeo “respects” Renault’s decision to launch a discussion with a Chinese supplier for its next generation rare earths free motor, Xavier Dupont, the head of its power division said during a presentation to investors.
Renault said in late 2023 it was working with Valeo on a new, more powerful and more compact EV motor without rare earths but is now looking instead for a cheaper Chinese supplier, two sources familiar with the matter told Reuters last week.
(Reporting by Mathias de Rozario in Gdansk and Gilles Guillaume in Paris)
