Leading tech company HORSE is set to revolutionize the motor powertrain sector with its innovative approach to combustion technology.
New Automotive Powertrain News Announced
HORSE, an independent global supplier of powertrain solutions, is set to make its debut in the automotive news on July 1, 2023. The company, headquartered in Madrid, Spain, has ambitious plans to develop carbon-free and low-emission technologies.
In a significant move, HORSE will be joining forces with Volvo Trucks, Geely, and the Renault Group to create a new business entity. This group will have production facilities in France, Spain, and Turkey, and aims to offer solutions to 80% of the global internal combustion engine news market.
The new entity will be led by Patrice Haettel, CEO of HORSE. It is expected to achieve a turnover of over 15 billion euros and employ 19,000 people, operating 22 sites worldwide.
HORSE's factories, along with those of Geely Aurobay, will together have the capacity to produce over 5 million transmission systems and powertrains annually. The company's annual production capacity stands at 3.2 million units.
The objective of this new entity is to become the leader in the next generation of internal combustion engines and low-emission hybrids. It plans a complete range of technologies for all components - engine, transmission, hybridization system, and batteries. HORSE powertrains will be ready to integrate various existing, alternative, and future energy types.
Notably, HORSE expects to serve current clients including Renault, Dacia, Nissan, and Mitsubishi Motors Corporation. The new joint venture will also be able to supply powertrains to other automotive news manufacturers and welcome new partners and shareholders interested in working on low-emission engines.
Aramco, the Saudi Arabian oil company, is studying the possibility of a strategic investment in this powertrain technology-focused news. Such an investment would support HORSE's growth and contribute to research and development of synthetic fuel solutions and next-generation hydrogen technologies.
HORSE has 9,000 former Renault Group employees working in 8 different industrial sites. The company also boasts 3 R&D centers with a global presence in 7 countries.
The new company's geographic coverage extends to all markets in Europe, Latin America, North America, and China. HORSE may offer powertrain technologies to other automotive brands in the future, positioning itself as a key player in the transition towards sustainable mobility.
