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.