Geely and Renault will invest up to 7 billion euros($7.71 billion) in a new inversely held common adventure to develop gasoline machines and cold-blooded technology for motorcars, the French automaker said in a statement.

The JV is aimed at manufacturing more effective internal combustion machines and mongrel systems at a time when the focus of importance of machine assiduity has been on the capital-ferocious transition to full-electric vehicles.

The original association will have two functional centers Madrid for Renault and Hangzhou Bay for Geely. An administrative platoon will be grounded in the headquarters of the new company, which is intended to be established in the U.K.

Renault said last week that it had begun operations at its internal- combustion operation, known as Horse.