# Aramco to acquire 10% stake in HORSE Powertrain Limited

Aramco signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, valuing the company at €7.4 billion enterprise value. Renault Group and Geely each retain 45% stakes.

- Type: Acquisition
- Announced: 2024-06-28
- Where: London, United Kingdom
- Value: $7.93B (7.40B EUR)
- Status: announced
- Capacity: 5 million powertrain units per year
- Products: powertrains, internal combustion engines, hybrid powertrains, synthetic fuels
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Aramco](https://endata.com/companies/2946.md) (acquirer)
- [Aramco](https://endata.com/companies/2946.md) (investor)
- [HORSE Powertrain](https://endata.com/companies/15183.md) (target)
- [Renault](https://endata.com/companies/20691.md) (partner)
- [Zhejiang Geely Holding Group](https://endata.com/companies/24488.md) (partner)
- [Geely Automobile Holdings](https://endata.com/companies/27939.md) (partner)

## Sources

- [media.renaultgroup.com](https://media.renaultgroup.com/aramco-to-acquire-10-equity-interest-in-horse-powertrain-limited-the-new-global-powertrain-solutions-company-established-by-renault-group-and-geely/?lang=eng), 2024-06-28: "This investment will enhance Aramco’s contribution to the global energy transition through the development and commercialization of more sustainable mobility solutions."
- [aramco.com](https://www.aramco.com/en/news-media/news/2024/aramco-to-acquire-10-percent-equity-interest-in-horse-powertrain-limited), 2024-06-28: "This investment aims to enhance Aramco’s contribution to the global energy transition through the development and commercialization of more sustainable mobility solutions."
- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5276706/aramco-to-acquire-10-equity-in-geely-renaults-powertrain-joint-venture), 2024-07-03: "Aramco plans to acquire a 10% equity interest in Horse Powertrain in equal parts from Renault and Geely, which will each retain 45% equity stakes, after the transaction"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.