Aramco, a leading energy and chemicals company, announced the acquisition of a 10% share in the capital of HORSE Powertrain Limited, the new company created by the Renault Group and Geely for the development of sustainable mobility solutions. An operation that is part of Aramco’s efforts to contribute to global energy transitiondeveloping and commercializing low-emission technologies.
Aramco enters HORSE
The investment also includes a collaboration with Valves on technologies, fuels and lubricants to improve the performance of HORSE Powertrain Limited’s internal combustion engines. Aramco, Renault and Geely share the belief that to successfully decarbonise the automotive industry, it is necessary to combine different technologiesincluding efficient heat engines, transmissions, hybrid powertrains, alternative fuels and electric vehicles.
Five million engines a year
The mission of HORSE Powertrain Limited is to drive the development of next-generation technologies with very low emissions, also leveraging Aramco’s expertise in the field not only of synthetic fuels but also of hydrogen and optimization of thermal engines. The annual production of HORSE Powertrain Limited, the Renault Group says, should reach 5 million powertrains, integrating a comprehensive portfolio of cutting-edge technologies for its partners around the world.
The dynamics with Renault and Geely
“I am delighted that Aramco is joining forces with HORSE Powertrain Limited – explained Matias Giannini, CEO of HORSE Powertrain Limited – Its expertise in fuels and hydrogen makes it an ideal partner to enable us to offer cutting-edge solutions of low-emission engines, advancing the decarbonisation of our sector. Together we will set new benchmarks for innovation in the automotive industry.”
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