# Saudi Aramco acquires 10% stake in HORSE Powertrain from Renault and Geely

Saudi Aramco signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, a joint venture between Renault Group and Geely Auto Group, for an enterprise valuation of €7.4 billion. The deal was announced on June 29, 2024.

- Type: Acquisition
- Announced: 2024-06-29
- Value: $7.93B (7.40B EUR)
- Status: announced
- Capacity: 5 million powertrain units annually
- Products: powertrain systems, internal-combustion engines, synthetic fuel solutions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Saudi Aramco](https://endata.com/companies/304.md) (acquirer)
- [HORSE Powertrain](https://endata.com/companies/15183.md) (target)
- [Renault](https://endata.com/companies/20691.md) (partner)
- [Geely Auto](https://endata.com/companies/25741.md) (partner)

## Sources

- [english.news.cn](https://english.news.cn/20240630/206b98fdfa68483184cea505fa9872fd/c.html), 2024-06-30: "Saudi Arabian Oil Company, commonly known as Saudi Aramco, has signed definitive agreements to acquire a 10 percent equity interest in HORSE Powertrain Limited"

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