Renault ceases development of new diesel engines – report

French car manufacturer Renault has confirmed that it will no longer invest in the development of all-new diesel engines.

According to a report from Automotive News Europe, Renault CEO Luca de Meo told shareholders that it will instead adapt existing powertrains for its "last generation" of diesel powered vehicles.

It remains unclear how the decision affects other brands. Renault has previously provided powertrains to Japanese alliance partners Nissan and Mitsubishi, as well as German luxury brand Mercedes-Benz.

The news comes as the troubled marque announces a record annual loss, with the brand selling off some of its investments to gain funds.

Others who have ended new diesel engine development include the Hyundai Motor Group, responsible for the Hyundai, Kia and Genesis brands.

Audi, subsidiary of German automotive conglomerate Volkswagen Group, has also halted new internal combustion engine development.

Conversely, BMW has committed to the development of new internal combustion engines – including ones powered by diesel.

MORE: Everything Renault