Saudi Aramco completes acquisition of Horse Power, deepening its presence in automotive powertrain

Saudi Aramco, a leading global integrated energy and chemicals company, announced on December 2 that it has successfully acquired a 10% stake in Horse Power Limited, a global leader in hybrid powertrain and internal combustion engine solutions, through its wholly-owned subsidiary Aramco Asia Singapore Pte. Ltd. The transaction was successfully completed after the signing of the final agreement in June 2024 and the receipt of relevant regulatory approvals.