The Saudi oil company Aramco will acquire 10% of Horse Powertrain for 740 million euros, one month after the creation of the new company, a joint venture between Renault and Geely Specialis&

La société saoudienne va acquérir une participation de 10% au capital de la nouvelle entreprise formée par Renault Group and Geely. These two partners will each maintain a 45% stake in Horse Powertrain. The purchase price of Aramco's stake is based on a company valuation of 7.4 billion euros for Horse Powertrain. Ahmad O. Khowaiter, Aramco's Executive Vice President of Technology and Innovation, announced that “Aramco's investment is expected to contribute directly to the development and global deployment of affordable, efficient, and low-carbon internal combustion engines.” The oil giant's investment is aimed at supporting Horse Powertarain's growth and contributing to the development of new powertrain technologies