Aramco’s investment in Aurobay’s parent company, Horse Powertrain, completes

Aramco’s acquisition of a 10% stake in Horse Powertrain Limited is now complete, following the signing of a definitive agreement on June 28, 2024, and all regulatory approvals. Renault Group and Geely each retain a 45% share.

Horse Powertrain, which includes Aurobay, is a new global leader in powertrain solutions, with 19,000 employees on three continents, 17 global plants and 5 R&D centers.

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.

Matias Giannini, Chief Executive Officer of Horse Powertrain, said: “We are delighted that Aramco has closed its investment in Horse Powertrain. Aramco’s expertise in alternative and synthetic fuels makes Aramco the ideal partner for us to deliver lower-emission powertrain solutions. By strengthening our technology leadership with this partnership, Horse Powertrain will only become more valuable as a partner to automotive brands looking to benefit from our expertise and global production footprint.”

Read the press release here.