Wednesday, December 19, 2007

Renault mulls Israel R&D center

Sources inform ''Globes'' that French carmaker Renault SA (Euronext:RNO) may establish an R&D center in Israel shortly. Company representatives recently met officials from the Ministry of Industry, Trade and Labor to discuss the matter, but both parties declined to comment about it.

It is not known if these talks are related to the establishment of an R&D center affiliated with the electric car venture, Project Better Place, launched by CEO Shai Agassi. "Globes" reported that the cars will be based on the Renault Megane chassis.