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Aramco investment to result in new low-carbon mobility solution by end of 2025?
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Product announcements from Horse Powertrain Limited or Aramco
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Aramco Completes 10% Stake Acquisition in Renault-Geely's Horse Powertrain JV
Dec 4, 2024, 06:50 AM
Saudi Aramco has completed the acquisition of a 10% stake in Horse Powertrain Limited, a joint venture set up in May by Chinese auto giant Geely Holding and French peer Renault Group. The agreement for this acquisition was signed in June, and the deal was finalized on December 2, 2024, by the Dhahran-based oil producer. This investment aligns with Aramco's research and development efforts to provide lower-carbon mobility solutions and reduce emissions.
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