Aramco completes acquisition of 10% stake in Horse Powertrain Limited

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Aramco completes acquisition of 10% stake in Horse Powertrain Limited

//automotive-transportation.news-articles.net/co .. ion-of-10-stake-in-horse-powertrain-limited.html

Published in Automotive and Transportation on Monday, December 2nd 2024 at 9:01 GMT by Aaron Neefham
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Aramco, one of the world's leading integrated energy and chemicals companies, through a directly and wholly owned subsidiary, Aramco Asia Singapore Pte. Ltd., has completed the purchase of a 10% equit

Saudi Aramco has successfully completed the acquisition of a 10% stake in Horse Powertrain Limited (HPL), a company formed by Renault Group and Geely to develop and supply next-generation hybrid and combustion powertrains. This strategic investment aims to enhance Aramco's efforts in developing lower-emission technologies, aligning with global trends towards sustainability in the automotive industry. HPL, headquartered in London, will focus on producing internal combustion, hybrid, and plug-in hybrid powertrains, with plans to supply up to 5 million units annually. The partnership not only supports Aramco's ambition to become a leader in advanced and sustainable transport technologies but also fosters innovation in engine technology, leveraging Aramco's expertise in synthetic fuels and hydrogen.

Read the Full AdnKronos Article at:
[ https://www.adnkronos.com/immediapress/eng/aramco-completes-acquisition-of-10-stake-in-horse-powertrain-limited_2sCIjMKWipLOIHB8aI1vVB ]

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