Renault announced a split in 2022 to become more efficient, and now the French group says HORSE, a company that will produce thermal and hybrid engines, is up and running. Part of Dacia’s operations will be transferred to the Horse company, whose shareholder is Renault. Geely and Aramco.

Some Dacia employees from Mioveni have been transferred to the new Horse company.

The new company, headquartered in Madrid (Spain), has 9,000 employees (former Renault Group employees) working in 8 plants with a production capacity of 3.2 million units per year. Renault also has 3 R&D centers in 7 countries (Romania, Argentina, Brazil, Chile, Portugal, Spain and Turkey).

Together, the Horse, Geely and Aurobay plants will have the capacity to produce more than 5 million engines and transmission systems annually. The new company will have a turnover of more than 15 billion euros and have 19,000 employees (including 9,000 from HORSE).

It will have 22 production sites worldwide (Geely and Aurobay plants in China and Sweden), as well as Renault Group/HORSE plants and research centers (in Romania, Portugal, Spain, Turkey and South America).

On July 1, Horse began operations in the field of development, production and supply of the next generation of thermal and hybrid power plants with low carbon emissions.

Horse will become a global powertrain supplier, developing low-carbon technologies. The new company will be a supplier for Renault, Dacia, as well as Nissan and Mitsubishi Motors Company. In the future, HORSE will be able to offer transmission technology to other automotive companies, the company says.

HORSE power plants will be able to integrate all existing or alternative types of fuel or energy sources (e-fuel, hydrogen, LPG, CNG, ethanol, etc.).

“In 2040, internal combustion engine and hybrid vehicles will continue to account for more than 50% of global sales. HORSE will be a pioneer in this market thanks to its technologies and low-carbon engines. HORSE employees around the world are ready to make this company a real international guide in the field of thermal and hybrid power plant technology.

Car manufacturers Geely AND Renault Group will create a new company in the coming weeks, as announced at the end of 2022, which will combine their subsidiaries specializing in the development and production of thermal power plants (in particular, Aurobay and HORSE).

Aramco, which signed a letter of intent with Renault Group and Geely on March 2, 2023, is evaluating a strategic investment in this new powertrain technology company. Aramco’s investment will support the company’s growth and contribute to key research and development solutions based on synthetic fuels and next-generation hydrogen-based technologies.

The new joint venture will also supply powertrains to other automakers and is open to new shareholders and partners interested in working with low-carbon engines.

Thanks to this project, the combined portfolio of Renault Group and Geely, as well as the geographical footprint of the new company, will allow it to provide solutions for 80% of the global internal combustion engine market. This growth is due to both geographic coverage – with access to all markets in Europe, Latin and North America and China – and product complementarity, which allows offering comprehensive solutions of low-emission engines and hydrogen-based technologies, Renault representatives say.