Aramco, a global energy and chemicals leader, has further solidified its commitment to sustainable mobility by acquiring a 10% stake in Horse Powertrain. This strategic move, executed through Aramco Asia Singapore Pte. Ltd., aims to accelerate the development of innovative hybrid and internal combustion powertrain solutions.
A Strategic Partnership
The transaction, finalized on [date], valued Horse Powertrain at €7.4 billion. Renault Group and Geely, two prominent automotive giants, retain their 45% stakes in the company.
A Shared Vision for a Sustainable Future
Aramco’s investment aligns with its broader strategy of developing low-carbon technologies and reducing transportation emissions. By partnering with Horse Powertrain, Aramco aims to leverage its expertise in alternative fuels and advanced engine technologies to drive the transition to a more sustainable future.
Key Benefits of the Partnership:
- Accelerated Innovation: The collaboration will expedite the development of next-generation internal combustion engines (ICE), hybrid powertrains, and alternative fuel solutions.
- Enhanced Technological Capabilities: Aramco and Valvoline Global Operations will contribute their extensive knowledge and experience to advance ICE technology, fuels, and lubricants.
- Expanded Global Footprint: Horse Powertrain’s global manufacturing network and strong customer base will benefit from Aramco’s resources and market access.
- Reduced Emissions: The partnership aims to reduce global vehicle emissions by promoting the adoption of more efficient and environmentally friendly powertrain solutions.
A New Era of Mobility
By combining Aramco’s energy expertise with Horse Powertrain’s technological prowess, the two companies are poised to shape the future of mobility. This strategic alliance will drive innovation, reduce emissions, and create a more sustainable transportation landscape.
