She initially has a lot of customers
Renault, Geely Holding and Geely Automobile officially formed Horse Powertrain Limited, headquartered in London, UK.
Renault and Geely each received 50% of the shares of the new company. The respective operating divisions of Horse Powertrain, namely Horse and Aurobay, will be spun off from the Renault Group and Geely respectively.
Matthias Giannini has been appointed CEO of Horse Powertrain Limited. Li Ma and Juan Ferrera have been appointed as Chief Financial Officer and Chief Human Resources Officer, respectively.
Horse Powertrain will design, develop, manufacture and sell internal combustion engines and hybrid power systems, as well as transmissions, batteries and other automotive components.
Since its founding, Horse Powertrain Limited has become, as Renault and Geely claim, «the world leader in hybrid and internal combustion engine solutions», as the new company includes:
- 17 factories
- 9 large customers in 130 countries;
- 5 research and development centers;
- About 19,000 employees;
- Expected annual revenue 15 billion euros;
- Expected production volume: 5 million transmission units per year.