Geely and Renault Group jointly establish HORSE Powertrain Limited to promote powertrain technology development

Geely and Renault Group signed a joint venture agreement on July 11, 2023, and officially established HORSE Powertrain Limited on May 31, 2024. Both parties hold 50% of the shares. The new company focuses on hybrid and fuel powertrain technology, with an estimated annual revenue of 15 billion euros and an annual production capacity of approximately 5 million powertrains. Matias Giannini serves as CEO and Li Donghui serves as chairman.