"Everybody is interested" in working with Horse Powertrain, a company co-created by the Renault Group and Geely with the goal of being the world’s number-one combustion engine maker, its boss has told Autocar.
“I would challenge you to think of one name we’re not talking to,” said Matias Giannini, as manufacturers try to balance the need to invest in electric vehicles with the need to sustain production of internal-combustion cars.
Horse isn’t even a year old yet is already a near-€15 billion (£13bn) company, because it includes all of Renault’s and Geely’s non-electric powertrain operations, supplying the two groups’ models with combustion engines around the world.
Renault and Geely each have a 45% shareholding in the company, with Saudi Arabian state-owned oil giant Aramco holding the remaining 10%.
Horse has divisions in China and Europe and its existing technology already covers 80% of use cases and global powertrain types and demands around the world, according to Giannini.
Beyond inheriting the Geely and Renault groups’ legacy operations, Horse has the goal of partnering other manufacturers to develop and supply them with powertrains, to allow them to focus on the investment in and development of EVs.
Giannini said: “Our proposition can actually help create huge value [for manufacturers].
“In the beginning, there was a little bit of a misconception, a misunderstanding of our purpose. Are we competing [with manufacturers]? Are we here to replace their manufacturing? If they’re satisfied with a solution that they have, we don’t need to touch that. We’re here to understand where they have gaps, where they have problems and how we can help those problems.”
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