Aramco Secures Strategic Stake in Horse Powertrain

Saudi Arabian Oil Co., also known as Aramco, has completed the acquisition of a 10% stake in Horse Powertrain Limited. This investment values the enterprise at EUR 7.4 billion. Renault Group and Geely retain a 45% equity stake each in Horse Powertrain.

Saudi Arabian Oil Co., popularly known as Aramco, has successfully acquired a 10% stake in Horse Powertrain Limited.

This significant investment by Aramco pegs the enterprise's value at EUR 7.4 billion.

Renault Group alongside Geely, through Geely Holding and Geely Auto, maintain their individual 45% equity stakes in the collaboration.

(With inputs from agencies.)