Aramco, one of the world’s leading energy and chemical companies, through its subsidiary Aramco Asia Singapore Pte. Ltd, has completed the acquisition of a 10% stake in Horse Powertrain, a global leader in hybrid and thermal powertrain systems.
The now-completed operation is part of Aramco’s efforts to develop new mobility solutions that can reduce emissions in the transportation sector.
This investment from Aramco, worth €7.4 billion, allows Horse Powertrain to accelerate its mission to develop innovative hybrid and internal combustion engine solutions for the global market.
“Aramco’s expertise in alternative and synthetic fuels makes it the ideal partner for us to offer low-emission propulsion solutions. By strengthening our technological leadership with this partnership, Horse Powertrain becomes a valuable partner for car brands looking to benefit from our experience and large-scale global production.”, said Matias Giannini, CEO of Horse Powertrain.
It is worth noting that in addition to Aramco’s 10% stake in Horse Powertrain, it is a joint venture that also includes the Renault Group and Geely (through Geely Holding and Geely Auto), each holding 45%.
