Renault Group and Geely officially create powertrain technology company HORSE

Following the joint venture agreement signed on July 11, 2023, and after having obtained the approval of the relevant authorities, Renault Group and Geely have officially created HORSE Powertrain Limited, headquartered in London, United Kingdom.

Luca de Meo, CEO Renault Group declared: “Today marks an important step in meeting the greatest challenges facing the automotive industry: the decarbonization of road transport. Partnering with a leading company like Geely to create a new player with the capability and expertise to develop ultra-low emission internal combustion engines and high economy hybrid technologies is key for the future. Through HORSE Powertrain, Renault Group can achieve worldwide leadership and scale in a sector representing more than 80% of its business. Together we will rise to meet the decarbonization challenge with innovation at the forefront of our operations.”

Eric Li, Geely Holding Chairman declared: “For the industry to reach net zero emissions in the next decades, global synergies, multiple technologies, and sharing of expertise, are crucial. That is why we are pleased that our partnership with Renault Group is reaching commercial reality today. HORSE Powertrain Limited will have the portfolio, scale and capacity to offer the low-emission solutions the automotive industry of tomorrow demands. Today’s launch marks a new chapter in sustainable mobility, and we at Geely are proud to play a part.”

Renault Group and Geely believe that a combination of various powertrain technologies is necessary, including highly efficient internal combustion engines (ICE), lower carbon e-fuels, and hydrogen, to achieve a successful decarbonization in a world where more than half of vehicles produced are expected to still rely on combustion engines by 2040.

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.

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.