Renault Group and Geely have announced the official creation of their new JV, Horse Powertrain Limited.
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It will be headquartered in London, UK.
Luca de Meo, CEO Renault Group said: “Partnering with a leading company like Geely to create a new player with the capability and expertise to develop ultra-low emission internal combustion engines and high economy hybrid technologies is key for the future.”
Renault Group and Geely believe that a combination of various powertrain technologies is necessary, including highly efficient internal combustion engines (ICE), lower carbon e-fuels, and hydrogen, to achieve a successful decarbonization in a world where more than half of vehicles produced are expected to still rely on combustion engines by 2040.
Eric Li, Geely Holding Chairman said: “For the industry to reach net zero emissions in the next decades, global synergies, multiple technologies, and sharing of expertise, are crucial. That is why we are pleased that our partnership with Renault Group is reaching commercial reality.”
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By GlobalDataHorse Powertrain Limited has 17 global plants with 19,000 employees. It is expected to generate expected around €15 billion in yearly revenues, with approximately 5 million powertrain units per year.
The joint venture agreement was first signed on in July 2023.
Horse reveals range extender tech for passenger and LCVs
The announcement of the JV comes as Horse said it has launched its next-generation of Range Extender powertrains.
The powertrain has a 200km EV-only range, with the engine adding a further 600km of range for a total of 800km. This offers drivers long-range travel while allowing them easy access to low-emissions zones.
The high-voltage battery is approximately half the size of a pure EV battery, delivering both significant cost savings, weight, and reduced pressure on the critical mineral supply chain.
The benefit of a Range Extender is the engine constantly operates in a high-efficiency operating window (rev range), minimising fuel consumption and emissions.
Patrice Haettel, CEO at Horse said: “This new Range Extender technology enables users to enter low-emission zones around major cities, driving in pure EV mode.”
