Exclusive: Renault seeking Chinese rare-earth-free motor supplier, sources say

Core Insights - Renault has terminated its collaboration with Valeo for the development of a new rare-earth-free electric vehicle motor [1] - The company is now seeking a more cost-effective supplier from China [1] Company Actions - Renault's decision to end the project with Valeo indicates a shift in strategy towards reducing costs in its supply chain [1] - The search for a Chinese supplier suggests a focus on leveraging lower manufacturing costs associated with Chinese production [1] Industry Implications - The move reflects broader trends in the automotive industry, where companies are increasingly looking for ways to cut costs amid rising material prices [1] - The shift away from rare-earth materials in electric vehicle motors may influence future supply chain dynamics and sourcing strategies within the industry [1]