Renault: Aramco to acquire 10% of HORSE Powertrain Ltd.
(CercleFinance.com) - Renault announces that Aramco has signed definitive agreements to acquire a 10% stake in HORSE Powertrain Limited, a Renault subsidiary, valuing the company at E7.
4bn.
Renault group and Geely will each retain a 45% stake.
Aramco's investment will support the growth of HORSE Powertrain Limited and contribute to the development of a competitive powertrain and synthetic fuels offering.
HORSE Powertrain Limited's annual production is expected to reach five million powertrains, encompassing a comprehensive portfolio of advanced technologies for its partners worldwide.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
4bn.
Renault group and Geely will each retain a 45% stake.
Aramco's investment will support the growth of HORSE Powertrain Limited and contribute to the development of a competitive powertrain and synthetic fuels offering.
HORSE Powertrain Limited's annual production is expected to reach five million powertrains, encompassing a comprehensive portfolio of advanced technologies for its partners worldwide.
Copyright (c) 2024 CercleFinance.com. All rights reserved.