nault Group and Geely Automobile established a joint venture company, HORSE Powertrain, with each group holding a 50% stake in May 2024, which is responsible for development and production of ICE and HEV systems among the Group’s five business areas. In June 2024, Saudi Arabian Oil Company (Saudi Aramco), Saudi Arabia’s state-owned petroleum company, announced that it would make an investment to acquire a 10% stake in HORSE Powertrain. The re...

Market & Tech Reports  Updated at: 2025/08/08

ge of the transition to electric vehicles, pointing out that more than one billion vehicles are still expected to be non-electric by 2040.   On May 31, 2024, Geely Holding Group and Renault Group officially established HORSE Powertrain Limited (HP), headquartered in London. In December 2024, Saudi Aramco acquired a 10% stake in HORSE Powertrain.   With 125 years of experience in powertrain innovation, the company is committed to sustainability ...

Market & Tech Reports  Updated at: 2025/06/20

motor in order to avoid a noticeable drop in performance when the battery charge level is low. CHINESE MANUFACTURERS PUSHING INTO EUROPE   An interesting new development is the formation of the French-Chinese company Horse Powertrain Solutions, a joint venture between Renault and Geely with Aramco as a minority stakeholder. The unique feature of Horse at the moment, at least in Europe, is that it covers all areas relating to modern hybrid...

Market & Tech Reports  Updated at: 2024/10/03

ord Group’s global production output to increase only slightly by 1.6% YoY to 4.3 mn units. Geely GroupSince mid-2023, Renault and Geely have combined their ICE and hybrid engine subsidiaries under a JV called HORSE to share powertrain development costs. Following its official launch in May 2024, Aramco acquired a 10% stake as a late-stage investor, valuing the JV at around US$7.9 bn. In China, Geely Automobile, in collaboration with a prominen...

Market & Tech Reports  Updated at: 2024/07/26

HEV and PHEV powertrains. In the future, the company aims to establish a production system capable of producing up to 5 million powertrains. The concept will also include LCVs (light commercial vehicles) and cover all energy sources such as e-fuels, hydrogen, LPG, CNG, and ethanol.  In June 2024, Aramco of Saudi Arabia announced that it will take a 10% stake in HORSE Powertrain Limited, cooperating in the development of e-fuel and hydrogen fuel...

Market & Tech Reports  Updated at: 2024/07/12

wertrain businesses.   Together they will then be the largest powertrain manufacturer in the world.   The newly merged company will operate in Asia, the US and Europe with 17 plants, 5 R&D centers and 19,000 employees and will have a production target of 5 million powertrains per year.   Finally ARAMCO has signed a non-binding agreement to join as a minority investor, which will play an important role in the further development of synthetic fu...

Market & Tech Reports  Updated at: 2024/06/06

rtners to convert the light commercial vehicle. Automobiles Dangel helped with the modification of the chassis and Caillau was responsible for the integration of the hydrogen storage system in the vehicle. The powertrain design and testing were supported by the University of Orleans, Stellantis and Aramco.   The basic engine of the LCV was a 2.2-liter diesel engine that had to be converted to spark ignition with the associated electronic control...

Market & Tech Reports  Updated at: 2023/07/11

d South America, with 19,000 employees. As an independent global supplier, the company will provide solutions to multiple brands including the Renault Group, Geely, Nissan and Mitsubishi Motors. At the same time, it will also serve many third-party brands. In March 2023, it was announced that Saudi Aramco will participate as a minority shareholder. Geely and the Renault Group will continue to hold equal shares in the new company. Sweden Partner...

Market & Tech Reports  Updated at: 2023/04/05

been promoted in-house, into the new company. From the start, the new business will supply 5 million units per year to eight customers (Renault, Dacia, Geely, Volvo Cars, Lynk & Co, Proton, Nissan, and Mitsubishi Motors) and is expected to generate sales revenue of EUR 15 billion.   Saudi Arabia's Aramco also invests in the company   In March 2023, Renault, Geely Automobile, and Saudi Arabian Oil Company (Aramco) announced that Aramco will take...

Market & Tech Reports  Updated at: 2023/03/23

Parcel Service, Inc. (UPS) Michael McDonald Director of Sustainability and Government Affairs Cummins Inc. Manik Narula Team leader, Powertrain & Electrification Systems & Controls Toyota Motor Corp. Tom Stricker Vice President, Sustainability and Regulatory Affairs Saudi Arabian Oil Company (Aramco) Moderator:Vincent Costanzo Strategic Analyst and Global Program Lead U.S. Department of Energy Moderator:Michael Duoba Research Engineer, Ar...

Market & Tech Reports  Updated at: 2021/05/07

dly vehicles.   Hyundai Group is planning to develop new EV platforms with Arrival Ltd. and Canoo Inc., EV development startups. The Group intends to reduce EV costs by building a platform that can be adopted in various models. Regarding fuel cell technology, Hyundai Group is partnering with Saudi Aramco in the area of hydrogen supply. The Group will develop a powertrain based on hydrogen fuel cell systems with Cummins Inc., an engine manufactur...

Market & Tech Reports  Updated at: 2020/06/22

of Future Concepts for Light eMobility Bernhardt Lueddecke Vitesco Technologies (formerly Continental Powertrain) e CO2-Analysis and Dimensioning of 48V Hybrid Drivetrains in Legal and Customer Based Cycles Matthias Werra Technische Universitat Braunschweig (*Note) A scheduled presentation by Aramco Research Center was cancelled and Mr. Adomeit, FEV Europe filled the slot. BMW - The New BMW M Straight-Six Gasoline Engine Lecturer: JUERGEN P...

Market & Tech Reports  Updated at: 2019/10/25