MANILA: Renault Group and Geely Automobile Holdings Limited have revealed the creation of the engine technology company called “Horse Powertrain Limited.” 

The new entity is a joint venture between the French and Chinese carmakers, each holding a 50 percent stake. According to Zhejiang Geely Holding Group Corporation Limited, the establishment of the new research and development company continues the two brands' joint venture agreement signed in 2023. It is also the result of a framework agreement previously signed by Renault and Geely in 2022. 

Regarding the purpose of the newly established Horse Powertrain, Renault and Geely both shared the necessity of pursuing carbon-neutral versions of internal combustion engines (ICE). The two carmakers said the latter will be achieved through hybrids, lower-carbon e-fuels, the use of hydrogen fuels, and highly efficient ICE units. 

As such, the R&D tech company will be tasked with designing, developing, and manufacturing all manner of hybrid and ICE products while utilizing advanced technologies. As mentioned, it is likewise tasked to explore the field of alternative fuels ranging from hydrogen, methanol, and ethanol. 

The two companies further added that continuing the development of ICE is necessary since both have projected that more than half of vehicles produced globally will still rely on the said engine type by 2040. 

On the corporate side, meanwhile, the new entity can function autonomously in developing future powertrain technologies. The latter is possible thanks to the transfer of intellectual property from Renault Group to Geely. 

For those unaware, the Renault Group consists of four brands that are predominantly operating in Europe. Besides Renault, the list of car marques includes Dacia and Alpine. It also includes car-sharing specialist Mobilize. 

The creation of the new engine joint venture may allow Renault and Geely’s product portfolio and regional footprint to address the needs of 80 percent of the world’s hybrid and powertrain markets. 

Once production of the said powertrains kicks off, the newly created tech-oriented company will supply Renault Group and Geely Auto. The latter is likewise extended to Geely Group’s Volvo Cars and Proton. The French automobile maker’s allies, Nissan and Mitsubishi, will be utilizing the products developed by Horse Powertrain, as well. 

Horse Powertrain is currently led by chief executive officer Matias Giannini. He is joined by Lee Ma, the company’s chief financial officer, and Juan Ferrara, its chief human resources officer. It is headquartered in London, United Kingdom

Photos from: Horse Powertrain Limited

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