New Renault-Geely engine firm plans UK headquarters

A new global company being launched by French motor giant Renault and Chinese carmaker Geely says it plans to have its headquarters in the UK.

The firms will invest up to €7bn ($7.7bn; £6bn) to develop low-emission petrol, diesel and hybrid engines.

It will employ about 19,000 workers at 17 plants and five research and development hubs on three continents.

The deal comes even as much of the global motor industry is shifting its focus to developing electric vehicles.

Renault and Geely said in a statement that the new company will use its UK headquarters to…