(CercleFinance.com) – Following the agreements signed on July 11, 2023, and after the approval of the competent authorities, Renault Group and Geely announce the official launch of HORSE Powertrain Limited, each group holding a 50% stake.
A world leader in the market for internal combustion engines, transmissions and hybrids, this company forecasts an annual turnover of around 15 billion euros and a production of five million powertrains per year.
‘From day one, HORSE Powertrain Limited will have a complete portfolio of cutting-edge technologies for its global partners: hybrid systems, internal combustion engines, transmissions and batteries,’ emphasizes Renault.
Matias Giannini is appointed Managing Director of HORSE Powertrain Limited. The board of directors will be chaired by Daniel Li and composed of six directors representing its shareholders in equal shares.
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