HORSE, new leading powertrain technology company is now fully operational and ready to reinvent combustion

ON 1 JULY 2023, HORSE HAS OFFICIALLY STARTED ITS ACTIVITIES IN THE AUTOMOTIVE MARKET. HORSE is inheriting from Renault Group's industrial know-how and assets in developing, producing and supplying next generation low-emission thermal & hybrid powertrains.

The new company headquartered in Madrid (Spain) comprises of 9,000 former Renault Group employees, working in 8 manufacturing sites with a production capacity of 3.2 million units per year. It also operates 3 R&D centers, with a global presence in 7 countries (Argentina, Brazil, Chile, Portugal, Romania, Spain and Türkiye).

AT LAUNCH, HORSE will be a standalone global supplier of propulsion system solutions, developing carbon free and low-emission technologies. The new company is expected to supply its current industrial customers including Renault, Dacia and also Nissan and Mitsubishi Motors Company. In the future, HORSE could also offer powertrain technologies to third-party car brands. In particular, it will offer a complete range of technologies across all components - engine, gearbox, hybridisation system (xHEV) and batteries - at the highest level. HORSE propulsion systems will eventually also be ready to integrate all types of existing or alternative and future energies (e-fuels,  hydrogen, LPG, CNG, Ethanol.).

"In 2040, combustion and hybrid vehicles will still account for more than 50% of global sales. HORSE will lead the way on this market with its best-in-class low-emission solutions and technological expertise. It is a unique experience and a great source of collective pride to contribute to the creation of a company on this scale. All the HORSE teams around the world are ready to make it an international reference in terms of combustion engine and hybrid technologies." 

Patrice Haettel, CEO, HORSE

RENAULT GROUP & GEELY, AN INTERNATIONAL HOLDING, A WORLDWIDE LOW-EMISSION POWERTRAIN CHAMPION

CAR MANUFACTURERS GEELY AND RENAULT GROUP will create in the coming weeks, and as announced at the end of 2022, a new entity by combining their subsidiaries specialised in powertrain design and production (especially Aurobay and HORSE). Aramco, which signed a letter of intent with Renault Group and Geely on 2 March 2023, is evaluating a strategic investment in this new powertrain technology company. Aramco’s investment would support the growth of the company, and contribute to key research and development across synthetic fuels solutions and next-gen hydrogen technologies.

The objective of the new company is to become the leader in the next generation of low-emission internal combustion and hybrid powertrains.

THE NEW JOINT-COMPANY will be in a position to supply powertrains to other vehicle manufacturers, and keen to include new partners and shareholders interested in working with it on low-emission engines.

Thanks to this project, the expected combined product portfolio of Geely and Renault Group and the geographic footprint of the new company will enable it to offer solutions for 80% of the global ICE (internal combustion engine) market. This growth is driven by geographic coverage with access to all markets in Europe, Latin & North America and China, and by product complementarity to offer car manufacturers complete low-emission solutions and systems as well as next generation hydrogen technologies.

HORSE’S AND GEELY AUROBAY'S PLANT would have together the capacity to produce over 5 million transmission systems and powertrains a year. The new company will have a turnover of over €15 billion and will employ 19,000 people (out of which 9,000 from HORSE) and operate 22 sites worldwide, from Geely (Geely’s and its subsidiary Aurobay’s sites in China and Sweden) and Renault Group / HORSE (R&D centers and production facilities in Portugal, Romania, Spain, Türkiye and South America). These bases will also allow the partners concurrently develop the next generation of fuels.