Matias Giannini, CEO of Horse Powertrain, said: “We are pleased that Aramco has completed its investment in Horse Powertrain. Aramco’s expertise in alternative and synthetic fuels makes Aramco the ideal partner for us to provide low-emission powertrain solutions. Strengthening our technology leadership with this partnership will only make Horse Powertrain more valuable as a partner to automotive brands looking to benefit from our expertise and global manufacturing footprint.”

Jamal Muashsher, Chief Executive Officer of Valvoline Global Operations, said: “As a technical partner and supplier to Horse Powertrain, we look forward to leveraging Valvoline Global’s 150+ years of automotive expertise and tradition of innovation to advance future-ready solutions in internal combustion engine technology, fuels and lubricants. Our latest joint initiative with Horse Powertrain and Aramco builds on Valvoline Global’s strong history of partnering with OEMs. By working together, we are helping to shape the next generation of mobility.”

Aramco’s investment is expected to accelerate Horse Powertrain’s efforts to develop next-generation internal combustion engine and hybrid powertrains, as well as complementary technologies such as alternative fuels and hydrogen solutions. As part of the transaction, Aramco and subsidiary Valvoline Global Operations will collaborate with Horse Powertrain on innovations in internal combustion engine technology, fuels and lubricants. Thanks to its technology leadership, global manufacturing and economies of scale, Horse Powertrain will further solidify its value proposition for automotive and transportation companies worldwide. Horse Powertrain aims to become an unparalleled partner for accessible, state-of-the-art hybrid and internal combustion engine powertrain solutions and help reduce global vehicle emissions.

The Horse Powertrain board now consists of seven members:

• Three directors from Geely: Daniel Donghui Li (Vice Chairman of Geely Auto and CEO, Geely Holding) becomes Chairman of the Board, Jerry Gan (CEO, Geely Auto Group) and Andy An (President, Geely Holding and Chairman, Geely Auto Group)

• Three directors of the Renault Group: François Provost (Chief Procurement, Partnerships and Public Affairs Officer of the Renault Group), Thierry Charvet (Chief Industry and Quality Officer of the Renault Group) and Denis Le Vot (CEO, Dacia and Chief Supply Chain Officer of Renault Group)

• A director from Aramco: Ali A. Al Meshari (Aramco Senior Vice President of Technology Oversight & Coordination)

Horse Drivetrain Fact Sheet:

• 17 global works

• 10 industrial customers in 130 countries, including vehicle manufacturers

• 5 research and development centers

• C. 19,000 employees

• Strategic presence with a focus on China, Europe and Latin America

• Expects approximately 5 million drive units per year

• All types of powertrain solutions are covered – full hybrids, long-range plug-in hybrids and internal combustion engines that use alternative fuels such as ethanol, methanol, LPG, CNG, hydrogen, etc.

Contact information for media

About horse drive train

Horse Powertrain is a global leader in hybrid and internal combustion powertrain solutions. It consists of two divisions, Aurobay and HORSE. Headquartered in London, UK, the company employs 19,000 people in 17 factories and five research and development centers worldwide. Horse Powertrain was officially founded on May 31, 2024. www.horse-powertrain.com

About Aramco

As one of the world’s leading integrated energy and chemicals companies, our global team is committed to making an impact in everything we do, from delivering critical oil supplies to developing new energy technologies. We are focused on making our resources more reliable, sustainable and useful, helping to drive growth and productivity around the world. www.aramco.com

About the Renault Group

The Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors and its unique expertise in electrification, Renault Group consists of four complementary brands – Renault, Dacia, Alpine and Mobilize – and offers its customers sustainable and innovative mobility solutions. With headquarters in more than 130 countries, the group sold 2.235 million vehicles in 2023. He employs more than 105,000 people who embody his purpose every day, so that mobility brings people closer. Ready to take on challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will create added value. The focus is on the development of new technologies and services as well as a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, the group’s goal is to achieve carbon neutrality in Europe by 2040. www.renaultgroup.com

About Zhejiang Geely Holding Group

Zhejiang Geely Holding Group (Geely Holding) is a global automobile group that owns several well-known international automobile brands and whose activities cover the entire automobile value chain, from research, development and design to production, sales and service. Geely Holding was founded in 1986 by Eric Li, the company’s chairman, in the city of Taizhou, Zhejiang Province, China. The company started its automotive business in 1997 and is now headquartered in Hangzhou, China. Today, Geely Holding operates a number of brands including Geely Auto, Lynk & Co, ZEEKR, Geometry, Volvo Cars, Polestar, Lotus, London Electric Vehicle Company, Farizon Auto and Cao Cao Mobility. Geely Holding sold nearly 2.8 million vehicles in 2023, with global sales of Volvo Cars reaching 708,716 units and Hong Kong-listed Geely Auto Group reporting sales of 1,686,516 units. Geely Holding employs over 130,000 people worldwide and has been listed in the Fortune Global 500 for 10 years. For more information about Zhejiang Geely Holding Group, please visit the official website at www.zgh.com

About Geely Automobile Holdings Limited

Geely Automobile Holdings Limited (the “Geely Auto” and its subsidiaries, collectively the “Geely Auto Group”) (SEHK stock exchange symbol: 175) is an automobile manufacturer focused on the development, manufacture and distribution of passenger vehicles. Geely Auto Group sells most of its products in the Chinese market and has also expanded its sales through exports to other countries in recent years. Geely Auto Group has production sites in various parts of mainland China and employs more than 60,000 people. Geely Auto is listed on the Main Board of the Stock Exchange of Hong Kong Limited (“SEHK”) and has been a component of the Hang Seng Index since 2017. Geely Auto’s majority shareholder is Zhejiang Geely Holding.

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