(MENAFN- AzerNews) Renault's electric vehicle division, Ampere, announced a significant partnership on Thursday with Chinese investors, including CICC Capital PE, to launch an investment fund aimed at accelerating innovation in the EV sector. The deal was finalized in Hangzhou, a major city in eastern China, known for its tech and innovation ecosystem, Azernews reports, citing Korean media.

The new fund will focus on advanced technologies such as battery development, smart driving systems, intelligent cockpits, and embodied intelligence-an area that explores how AI can interact with and enhance human mobility. While the exact size of the fund has not been revealed, Renault emphasized its commitment to driving the future of electric vehicles through strategic collaborations in cutting-edge fields.

What makes this move particularly interesting is the growing trend of global automakers seeking alliances in China, a hub for both EV production and technological development. China's vast consumer base and its leadership in electric vehicle adoption present a unique opportunity for Renault to tap into new markets while advancing its own electric vehicle innovation.

This partnership also highlights a broader shift in the automotive industry, where traditional automakers are increasingly investing in AI and next-gen technologies to stay ahead of the curve in a highly competitive market. For Renault, this deal is likely a crucial step in maintaining its edge in the fast-evolving EV race.

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