Aramco to acquire 10% equity in Geely — Renault’s powertrain joint venture

Aramco plans to acquire a 10% equity interest in Horse Powertrain in equal parts from Renault and Geely, which will each retain 45% equity stakes, after the transaction

Aramco, one of the world’s leading integrated energy and chemicals companies, through a wholly owned subsidiary has signed definitive agreements to acquire a 10% equity interest in Horse Powertrain Limited, an equal joint venture between Renault Group and Geely Automobile Holdings, Aramco announced on June 28.