Renault Group (RNSDY.PK, RNSDF.PK, RNT.L) and Geely Holding, alongside Geely Automobile, have officially launched HORSE Powertrain Limited, with its headquarters in London, United Kingdom. Both Renault and Geely possess an equal 50% stake in this newly formed company. The respective operating divisions of HORSE Powertrain, specifically Horse and Aurobay, will be independently deconsolidated from Renault Group and Geely, respectively.
Matias Giannini has been appointed as the Chief Executive Officer (CEO) of HORSE Powertrain Limited. Additionally, Lee Ma will serve as the Chief Financial Officer (CFO) and Juan Ferrera will take on the role of Chief Human Resources Officer (CHRO).
HORSE Powertrain is set to lead the design, development, production, and sale of all hybrid and combustion powertrain solutions and systems. The company will leverage cutting-edge technologies encompassing engines, transmissions, hybrid systems, and batteries.
