Saudi Arabia’s oil and gas giant Saudi Aramco could take a stake in French automaker Renault ’s (OTCPK: RNSDF) future thermal engine business after it separates it from its electric vehicle division. According to a Reuters report on Tuesday, China’s Geely Automobile Holdings and an oil group are in talks over taking stakes in Renault’s fossil-fuel engine business. The report notes that Japanese carmaker Nissan (OTCPK: NSANY), does not plan to take a stake in the combustion engine business. Renault is in the process of creating a new division that will bring together all of its petrol and hybrid engine and transmission production sites in Spain, Portugal, Turkey, Romania and Latin America. The company hopes that by sharing costs for diesel and gasoline engines, it will free up funds to reinvest in electric models, a technology it pioneered with Nissan and Mitsubishi, but has fallen behind the likes of […]