Aramco Invests in Horse Powertrain to Drive Innovation in Lower-Emission Mobility Solutions
Key Ideas
- Aramco acquires a 10% equity stake in Horse Powertrain, focusing on developing new mobility solutions to reduce transport emissions.
- Renault and Geely retain 45% each in Horse Powertrain, valuing the company at €7.4 billion, aiming for lower-emission mobility solutions.
- Aramco's investment will accelerate the development of next-gen powertrains, including ICE and hybrid, as well as alternative fuel and hydrogen solutions.
- Collaboration between Aramco, Horse Powertrain, and Valvoline Global Operations aims to shape the future of mobility with innovative ICE technology and lubricants.
Aramco's recent acquisition of a 10 percent equity stake in Horse Powertrain through its subsidiary, Aramco Asia Singapore, marks a significant move towards developing innovative solutions for reducing transport emissions. The €7.4 billion enterprise valuation has positioned Horse Powertrain as a key player in the quest for lower-emission mobility solutions. With Renault and Geely retaining 45% each in the company, there is a strong emphasis on leveraging collective know-how to drive the adoption of sustainable mobility.
Aramco's investment is poised to expedite the development of next-generation powertrains, such as ICE and hybrid technologies, along with a focus on alternative fuel and hydrogen solutions. This partnership not only strengthens the technological capabilities of Horse Powertrain but also enhances its value proposition for global automotive brands.
By collaborating with Valvoline Global Operations, Horse Powertrain aims to pioneer advancements in ICE technology, fuels, and lubricants. The collective efforts between Aramco, Horse Powertrain, and Valvoline Global Operations signify a commitment to shaping the future of mobility by offering cutting-edge solutions that prioritize sustainability and innovation. The board expansion at Horse Powertrain, including representation from Aramco, Renault, and Geely, further solidifies the company's position as a leader in developing accessible hybrid and ICE powertrain solutions for the automotive industry.