Renault Group, Geely Holding Group (Geely Holding), Geely Automobile Holdings Limited (Geely Auto) (collectively referred to above as “Geely”) have officially created HORSE Powertrain Limited, headquartered in London, United Kingdom, the Renault Group announced.
HORSE Powertrain Limited will design, develop, produce, and sell all hybrid and combustion powertrain solutions and systems with state-of-the-art technologies including engines, transmissions, hybrid systems and batteries.
Thanks to this project, both Renault Group and Geely will benefit from immediate scale effect and market coverage enhancement. Supported by the transfer of Intellectual Property from Renault Group and Geely, HORSE Powertrain Limited is now fully autonomous in developing future powertrain technologies capable of addressing all market expectations, notably in the field of alternative fuels such as green methanol, ethanol, and hydrogen. The joint venture’s complementary product portfolio and regional footprint could offer solutions for 80% of the growing global hybrid & combustion powertrain market.
HORSE Powertrain will supply multiple industrial customers including Renault Group, Geely Auto, Volvo Cars, Proton, Nissan and Mitsubishi Motors Company. The company is ready to engage with customers and partners around the world to support them with end to end solutions in powertrain technologies and will welcome partners to further strengthen the value chain.
From Day One of its establishment, HORSE Powertrain Limited is worldwide leader in hybrid and combustion powertrain solutions with:
- 17 global plants
- 9 customers in 130 countries
- 5 R&D centers
- c.19,000 employees
- expected c. €15 billion in yearly revenues
- expected c.5 million units powertrain per year
- All types of hybrid solutions covered – full hybrids and long-range plug-in hybrids as well as internal combustion engines that use alternative fuels such as ethanol, methanol, LPG, CNG, H2 etc.
Photo of Renault Group
Press release https://shorturl.at/7tGao
