Horse Powertrain

Horse Powertrain Limited
Company type	Joint venture
Industry	Automotive
Founded	May 31, 2024; 5 months ago
Headquarters	London, United Kingdom
Area served	Worldwide
Key people	Matias Giannini (CEO)
Products	Internal combustion engines, hybrid systems, transmissions
Owners	Renault (45%); Geely (45%, including Geely Holding and Geely Auto); Saudi Aramco (10%);
Subsidiaries	Aurobay (former Geely subsidiary); Horse (former Renault subsidiary);
Website	horse-powertrain.com

Horse Powertrain Limited is a joint venture holding aimed at producing powertrains, including internal combustion engines (ICE) and hybrid systems. The venture holding was established in May 2024 and is equally owned by Renault and Geely (including Geely Holding and Geely Auto). It is headquartered in London, United Kingdom.

The company has two major subsidiaries, including Aurobay, a former Geely-owned powertrain company operating in Sweden and China with 9,000 employees, and Horse, a former Renault powertrain division with 9,000 employees.

History

The joint venture project was announced in November 2022 and codenamed Horse project by Renault and Rubik project by Geely.^[1]^[2] The Renault Group and Geely namesake brands would be the first to receive the powertrains and they would later be supplied to Dacia, Volvo, Lynk & Co and Proton cars,^[3] as well as Nissan and Mitsubishi Motors ones.^[4] Sourcing to third parties is also part of the plan.

In July 2023, Renault announced it had spun off its ICE and hybrid powertrain operations into a Horse-named subsidiary based in Madrid, Spain. Geely was set to join later by integrating its Swedish powertrain division (Aurobay) and various Chinese operations and merging them both with Horse into a holding company owned by Renault and Geely, with Aramco a potential late investor.^[5] Later that same month, the two companies signed a binding agreement for the creation of the venture holding, with Renault operations initially headquartered in Madrid and Geely's in Hangzhou. Both Geely and Renault were set to transfer their intellectual property for ICEs and hybrid systems to the venture holding. The venture holding was set to be established and start operations in the second half of 2023, pending regulatory clearances.^[6] After various regulatory delays, the venture was officially established in late May 2024.^[7]