Saudi Aramco has acquired a 10 per cent stake in Horse Powertrain as part of its efforts to accelerate the development of green and sustainable mobility.
The deal is based on a €7.4 billion ($7.8 billion) valuation of the provider of hybrid and internal combustion powertrain solutions jointly owned by Renault Group and Geely, with each retaining a 45 per cent stake. It followed definitive agreements signed in June and regulatory approvals secured, Aramco said in a statement on Monday.
The world's largest oil-producing company, headquartered in Dhahran, has completed the acquisition through its wholly owned subsidiary, Aramco Asia Singapore.
The partnership aims to accelerate research in next-generation powertrain technologies, including synthetic fuels, hydrogen and advanced hybrid solutions, as part of efforts to reduce transport emissions.
Aramco’s expertise in alternative and synthetic fuels makes it the ideal partner for us to deliver lower-emission powertrain solutions
Matias Giannini,
chief executive, Horse Powertrain
Aramco is currently pursuing various solutions, from lower-carbon synthetic fuels to more efficient internal combustion engines, said Ahmad Khowaiter, the company’s executive vice president of technology and innovation.
“Our investment in Horse Powertrain builds on our considerable R&D in this field … we aim to leverage our collective know-how to take lower-emission mobility solutions forward,” Mr Khowaiter said.
Aramco’s investment is expected to boost Horse Powertrain’s efforts to develop internal combustion engines and hybrid powertrains, along with complementary technologies like alternative fuel and hydrogen solutions.
Aramco, which aims to achieve net-zero Scope 1 and Scope 2 emissions by 2050, is working on the development of sustainable fuels and is signing partnerships to help reduce transport emissions.
In 2022, it signed an agreement with Formula One’s Aston Martin for the development of internal combustion engines, sustainable fuels and advanced lubricants to lower emissions in racing cars.
The company is also strengthening its portfolio and finances. In October, it announced the completion of a $3 billion international sukuk issuance, comprising two US dollar-denominated tranches.
As part of the latest agreement, Aramco and affiliate Valvoline Global Operations will collaborate with Horse Powertrain on innovations in combustion engine technology, fuels and lubricants.
“Aramco’s expertise in alternative and synthetic fuels makes Aramco the ideal partner for us to deliver lower-emission powertrain solutions,” Matias Giannini, chief executive of Horse Powertrain, said.
Established in May, the UK-based Horse Powertrain focuses on providing low-emission powertrain solutions, including hybrid and combustion-based systems. These components play a crucial role in transferring energy from the engine to propel vehicles efficiently.
Its operational footprint spans 17 manufacturing plants and five dedicated research and development centres worldwide. Serving 10 industrial customers across 130 countries, including major vehicle manufacturers, the company focuses on key markets such as China, Europe and Latin America.
With an anticipated production capacity of about five million powertrain units annually, Horse Powertrain delivers solutions for all types of powertrains, including full hybrids, long-range plug-in hybrids and internal combustion engines.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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ELIO
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Company%20profile
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COMPANY%20PROFILE
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KILLING OF QASSEM SULEIMANI
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700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams
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Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
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- Source: Can be carried from distant regions
Dengue%20fever%20symptoms
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
The specs: 2017 Ford F-150 Raptor
Price, base / as tested Dh220,000 / Dh320,000
Engine 3.5L V6
Transmission 10-speed automatic
Power 421hp @ 6,000rpm
Torque 678Nm @ 3,750rpm
Fuel economy, combined 14.1L / 100km
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
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Killing of Qassem Suleimani
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
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- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
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- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
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Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
England Test squad
Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
