Trailblazing in the motor powertrain sector, HORSE prepares to revolutionize traditional combustion technology
New Automotive Powerhouse HORSE Officially Launches
After months of anticipation, HORSE, the new global leader in low-emission powertrain technology, officially began operations on July 1, 2023. Headquartered in Madrid, Spain, the company is poised to revolutionise the automotive industry.
At its inception, HORSE is an independent global supplier of powertrain systems, employing a workforce of 19,000 people across the globe. This impressive figure includes 9,000 former employees from the Renault Group, working across 8 industrial sites.
The new entity, a collaboration between automobile manufacturers Geely and the Renault Group, groups their subsidiaries specialising in powertrain production. These include Aurobay and HORSE. The combined product portfolios and geographic footprint of Geely and Renault Group will enable HORSE to offer solutions to 80% of the global internal combustion engine market.
HORSE's factories, including those from Geely Aurobay, have the capacity to produce over 5 million transmission systems and powertrain units annually. This significant production capacity will allow HORSE to cater to a wide range of automobile manufacturers. The company is also open to welcoming new partners and shareholders interested in working on low-emission engines.
The objective of this new entity is clear: to become the leader in the next generation of low-emission internal combustion and hybrid engines. To achieve this, HORSE plans to develop a complete range of technologies for all components, including engines, transmissions, hybridization systems, and batteries.
HORSE's powertrain systems will be designed to integrate existing, alternative, and future energy types, such as e-fuels, hydrogen, LPG, CNG, ethanol, and more. The company also aims to develop carbon-neutral and low-emission technologies, contributing to a more sustainable future for the automotive industry.
Aramco, the Saudi Arabian national petroleum and natural gas company, is currently studying the possibility of a strategic investment in HORSE. Such an investment would support the company's growth and contribute to research and development of synthetic fuel and next-generation hydrogen technologies.
With an annual production capacity of 3.2 million units, HORSE expects to serve current clients, including Renault, Dacia, Nissan, and Mitsubishi Motors Corporation. In the future, HORSE may offer its powertrain technologies to other automobile brands, further expanding its reach and impact on the industry.
The new company, HORSE, encompasses 9,000 former employees from the Renault Group and totals 19,000 employees worldwide, including activities of HORSE factories and R&D centers globally. The partners will operate 22 sites worldwide, through Geely (Geely and its subsidiary Aurobay sites in China and Sweden) and Renault Group / HORSE (R&D centers and production sites in Spain, Portugal, Romania, Turkey, and South America).
HORSE is set to achieve a turnover of over 15 billion euros, making it a formidable force in the global automotive industry. As the company embarks on this exciting new journey, it promises to deliver innovative, sustainable, and high-quality powertrain solutions for the future.
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