The Power Play: Geely and Renault Establish Joint Powertrain Venture

HORSE Powertrain Limited's Founding

HORSE Powertrain Limited, a joint venture between Geely and Groupe Renault, formally started operations on May 31st. Industry insiders estimate a new powertrain monster will emerge with revenues of 15 billion euros.

Following the Alliance

Geely and Renault began their four-year-old power collaboration four years ago when they signed a Memorandum of Understanding in August 2021 to share resources and technologies related to hybrid powertrains. With a focus on South Korea and China, the agreement strengthened market-oriented programs.

The Effect of "Renaulution"

In 2022, Renault divided its business into five areas to implement its "Renaulution" strategy. Focusing on internal combustion engines and hybrid powertrain systems, the "Power" unit strengthened its operations by partnering with Geely to launch HORSE Powertrain Limited.

Fair Collaboration

A balanced cooperation is fostered by the equal stakes that Geely and Renault have in HORSE Powertrain Limited. The business is run by a six-member board of directors, which is led by Li Donghui, the president and chief executive officer of Geely Holding Group.

Wide Range of Activities

With an aim to satisfy 80% of the global demand, the new business strategically develops, produces, and markets powertrain systems and components for internal combustion and hybrid engines.

The Vision of Hybridity

HORSE Powertrain Limited pledges to innovate in hybrid technology while upholding the legacy of internal combustion engines. It is anticipated that the parent businesses' experience will support the venture's potential developments.

Worldwide Reach

With 17 facilities, 5 R&D centers, and almost 19,000 employees worldwide, HORSE Powertrain Limited is well-positioned to service companies including Volvo Cars, Proton, Nissan, and Mitsubishi Motors.

The Green Promise

Geely and Renault's joint venture pledges to meet the decarbonization problem facing the automobile sector and provide a comprehensive range of powertrain solutions, including alternative fuels like methanol, ethanol, and hydrogen, in the rapidly electrified auto industry.