Renault, Geely JV To Produce Hybrid, ICE, BEV Powertrains

Renault and Geely have officially established a new JV company, Horse Powertrain Limited. This is the conclusion of the joint agreement talks that both commenced on July 11, 2023. With its headquarters in London, United Kingdom, the French and Chinese companies will each have a 50 per cent stake in the new company. 

The first CEO of Horse Powertrain Limited will be Matias Giannini, and its board of directors will be headed by Daniel Li along with six directors, with equal representation from its shareholders. Geely and Renault anticipate that this newly formed company will generate an annual revenue of 15 billion pounds annually, thoroughly backed by a production scale of 5 million powertrains annually. 

Horse Powertrain Limited already has 17 global plants and five research and development centres. It also has nine customers of its hybrid and ICE powertrains which are located in 130 countries. The latter mainly includes Renault and Geely-owned companies, including Volvo Cars, Proton, Nissan and Mitsubishi Motors Company. 

Horse Powertrain Limited will be responsible for all types of powertrain solutions. Whether it's full hybrids, plug-hybrids, or even internal combustion engines that run on green fuels like methanol, LPG, CNG; and even battery solutions. 

Established mainly to achieve complete decarbonisation in the world. Both Renault and Geely believe that a combination of various powertrain technologies will be necessary to lower carbon e-fuels. Moreover, both companies also believe that more than half of the vehicles will continue to rely on combustion engines by 2040.