Renault Technologie Roumanie, a Romanian subsidiary of Renault, has received EU funds in Romania to develop virtual reality systems and to test physical components in the simulated virtual environment, according to a local media report.

The company has benefitted from EU funds of over EUR1m plus a national contribution of over EUR 489,000, romania-insider.com reported, citing local news agency Agerpres. Its own contribution amounted to EUR1.4m.

The funds have been allocated within the Competitiveness Operational Programme (COP) in the Research, Technological Development and Innovation sector. Some 14 projects, with a value of EUR35.2m, have been financed through this programme, the reports said.

Last month, managers said the strategic partnership between the Renault-Nissan Alliance and Daimler was maturing as it entered its seventh year in 2016.

"The partnership between Daimler and the Alliance has grown and matured," said Carlos Ghosn, Alliance chairman and CEO. "It is based on a spirit of cooperation and trust that has strengthened over the years. The results have clearly benefitted both partners. By sharing development and production costs, we have been able to enter new segments and offer our customers more compelling vehicles with the latest technology and features at more competitive prices."

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