A new company, developed by French car manufacturer Renault and China’s Geely, and headquartered in Britain, will design, develop, produce and sell hybrid and combustion engines.
The new company called HORSE Powertrain will have its headquarters in London. Renault and Geely each have a 50% stake in the new company.
HORSE Powertrain’s respective operating entities, namely Horse and Aurobay, will be deconsolidated from Renault Group and Geely respectively.
Matias Giannini has been appointed CEO of HORSE Powertrain limited.
Lee Ma and Juan Ferrera are appointed Chief Financial Officer and Chief Human Resources Officer, respectively.
HORSE Powertrain will design, develop, manufacture and sell all hybrid and combustion engine solutions and systems using the latest technologies, including engines, transmissions, hybrid systems and batteries.