Revolutionized powertrain technology company, Horse, fully functional and geared up to redefine the combustion era
New Automotive Company HORSE Officially Launches
After months of anticipation, the new automotive company HORSE officially began operations on July 1, 2023. The joint venture between Renault Group and Geely, an international holding, is set to revolutionise the automotive industry.
Based in Madrid, Spain, HORSE employs 9,000 former Renault Group employees and operates 22 sites worldwide. This includes Geely's and Aurobay's sites in China and Sweden, as well as Renault Group / HORSE's R&D centers and production facilities in Portugal, Romania, Spain, Türkiye, and South America. HORSE operates in 8 manufacturing sites with a production capacity of 3.2 million units per year.
The new company aims to become the leader in the next generation of low-emission internal combustion and hybrid powertrains. With a combined capacity of over 5 million transmission systems and powertrains a year, HORSE will offer a complete range of technologies across all components - engine, gearbox, hybridisation system, and batteries.
The new joint-company will supply propulsion system solutions to current industrial customers, including Renault, Dacia, Nissan, and Mitsubishi Motors Company. Aramco, the Saudi Arabian oil company, is also evaluating a strategic investment in this new powertrain technology company. If successful, Aramco's investment would support the growth of the company and contribute to key research and development across synthetic fuels solutions and next-gen hydrogen technologies.
HORSE propulsion systems will be ready to integrate all types of existing and future energies, such as e-fuels, hydrogen, LPG, CNG, and Ethanol. The combined product portfolio of Geely and Renault Group and the geographic footprint of the new company will enable it to offer solutions for 80% of the global ICE market.
Patrice Haettel, former Renault Group executive, is the CEO of HORSE. The new company will have a turnover of over €15 billion and employ 19,000 people, with 9,000 from HORSE.
Geely, the Chinese automaker, will lead the partnership, underscoring its strong influence in the collaboration. Renault is participating as a significant partner, but the leadership is mainly driven by Geely in this joint venture.
HORSE aims to lead the market of combustion and hybrid vehicles, which are expected to account for more than 50% of global sales in 2040. The new company's bases will also allow the partners to concurrently develop the next generation of fuels.
This exciting new venture promises to bring significant changes to the automotive industry, offering innovative solutions for both current and future energy needs. With its extensive resources, global presence, and commitment to low-emission technologies, HORSE is well-positioned to shape the future of the automotive industry.
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