By Pietro Lombardi
Renault SA said Monday that it has signed two agreements to team up with partners in the design and production of batteries for electric vehicles.
The French auto maker said the partnerships will help create around 4,500 jobs in France by the end of the decade and will play a role in building a manufacturing ecosystem in Europe.
One of the agreements is with Envision AESC, which will build a factory with a capacity of 9 gigawatt hours in 2024, expected to reach 24 GWh by 2030.
The other deal is with French start-up Verkor, to develop together and then produce high-performance batteries. As part of the agreement, the car maker will take a stake of more than 20% in the start up.
Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10
