- Following the signing of definitive agreements on June 28, 2024, Aramco has completed its acquisition of a 10% equity stake in Horse Powertrain Limited (“Horse Powertrain”), based on an enterprise value of €7.4 billion
- Renault Group and Geely (through Geely Holding and Geely Auto) each retain a 45% equity stake in Horse Powertrain
- The investment solidifies a key strategic partnership between Horse Powertrain and Aramco, leveraging their collective expertise and resources to pursue advances in powertrain technologies, synthetic fuels, and lubricants
- The partnership builds on Aramco’s research and development (R&D) efforts in lower-carbon mobility solutions, aims to contribute to transport emission reductions, and helps to pursue Horse Powertrain’s vision of becoming a consolidated powertrain Tier 1 supplier to accelerate the energy transition
, /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, through a directly and wholly owned subsidiary, Aramco Asia Singapore Pte. Ltd., has completed the purchase of a 10% equity stake in Horse Powertrain, a global …