Renault and Geely's HORSE Powertrain joint venture officially established

In May this year, Geely and Renault officially announced the establishment of HORSE Powertrain, headquartered in London, UK. The company has 19,000 employees in 22 locations around the world, mainly in Spain, Romania, Turkey, South America and China. The joint venture between Renault and Geely is expected to have an annual revenue of nearly 15 billion euros (about 116.55 billion yuan) and an annual output of about 5 million powertrain units, providing global partners with a complete powertrain technology portfolio including hybrid systems, internal combustion engines, transmissions and battery solutions.