Aramco’s investment is anticipated to boost Horse Powertrain’s development of advanced internal combustion engines (ICE) and hybrid powertrains. This financial infusion will also support the company in integrating additional technologies such as alternative fuels and hydrogen solutions, positioning it to become a leading Tier 1 supplier in the powertrain industry.
Aramco, a global leader in energy and chemicals, has finalised the acquisition of a 10% equity stake in Horse Powertrain through its subsidiary, Aramco Asia Singapore. Horse Powertrain, recognised for its expertise in hybrid and internal combustion powertrain technologies, will leverage Aramco’s investment to accelerate the development of next-generation mobility solutions aimed at reducing transport emissions.
The transaction, which values Horse Powertrain at €7.4 billion, was completed following regulatory approvals and definitive agreements signed on June 28, 2024. Renault Group and Geely, each retaining a 45% stake, remain key stakeholders alongside Aramco.
The partnership is poised to advance innovations in internal combustion engine (ICE) technology, hybrid powertrains, and alternative fuel solutions, including hydrogen and synthetic fuels. Aramco’s investment builds on its research and development efforts to create more efficient, lower-carbon solutions in the transportation sector.
Horse Powertrain is expected to play a pivotal role in supporting the global automotive industry’s transition to sustainable mobility. The company plans to manufacture five million powertrain units annually, offering a range of advanced technologies, including full hybrids, plug-in hybrids, and alternative-fuel ICE systems utilizing ethanol, methanol, LPG, CNG, and hydrogen.
Collaborating with Aramco and its affiliate Valvoline Global Operations, Horse Powertrain aims to enhance its capabilities in fuel and lubricant technologies while bolstering its position as a premier partner to automotive manufacturers worldwide. The combined efforts of Aramco, Renault Group, and Geely reflect a shared commitment to leveraging diverse technologies to facilitate an orderly energy transition within the automotive sector.
