Geely and Renault establish joint venture HORSE Powertrain Limited

Geely Holding Group and Renault Group recently announced that the joint venture HORSE Powertrain Limited, established by the two parties in London, UK, has officially started operations. The company focuses on the design and production of advanced hybrid and fuel powertrain components and systems, including engines, transmissions, hybrid systems and batteries. Both parties expect the company to achieve an annual revenue target of 15 billion euros, which, if achieved, will make it a giant supplier in the powertrain field.