Riyadh – Sharikat Mubasher: Aramco, through its subsidiary Aramco Asia Singapore, announced the acquisition of a 10% equity stake in Horse Powertrain, a global leader in hybrid and internal combustion powertrain solutions, at a valuation of €7.4 billion.
Renault Group and Geely each retain a 45% stake, according to a recent press release.
This move strengthens Aramco’s commitment to reducing transport emissions through innovative solutions like lower-carbon synthetic fuels and efficient internal combustion engines.
The partnership will focus on developing next-generation powertrains, alternative fuels, and hydrogen solutions. Valvoline Global Operations, a technical partner, will contribute its expertise in ICE technology, fuels, and lubricants.
Ahmad O. Al Khowaiter, Aramco Executive Vice President of Technology & Innovation, said: “Addressing transport emissions requires a wide range of approaches that consider the diverse nature of the global vehicle fleet, broad disparities in transport infrastructures, and the specific needs of motorists in different countries. At Aramco, we are pursuing a number of potential innovative solutions, from lower-carbon synthetic fuels to more efficient internal combustion engines, as we look for opportunities to make a difference. Our investment in Horse Powertrain builds on our considerable R&D in this field. In joining forces with two of the world’s leading carmakers, we aim to leverage our collective know-how to take lower-emission mobility solutions forward.”
Matias Giannini, Chief Executive Officer of Horse Powertrain, said: “We are delighted that Aramco has closed its investment in Horse Powertrain. Aramco’s expertise in alternative and synthetic fuels makes Aramco the ideal partner for us to deliver lower-emission powertrain solutions. By strengthening our technology leadership with this partnership, Horse Powertrain will only become more valuable as a partner to automotive brands looking to benefit from our expertise and global production footprint.”
Jamal Muashsher, Chief Executive Officer of Valvoline Global Operations, said: “As a technical partner and supplier to Horse Powertrain, we look forward to applying Valvoline Global’s 150-plus years of automotive expertise and tradition of innovation to advance future-ready solutions in internal combustion engine technology, fuels, and lubricants. Our newest joint effort with Horse Powertrain and Aramco builds on Valvoline Global’s strong history in original equipment manufacturer partnerships. Through collaboration, we are helping to shape the next generation of mobility.”
This investment positions Horse Powertrain to lead in cutting-edge, low-emission powertrain solutions, supporting global efforts to reduce vehicle emissions.
