Saudi Aramco Reportedly Plans to Join 10% Stake of Renault-Geely JV

　　Saudi Aramco will take a 10% stake in Horse Powertrain, the hybrid and fuel power joint venture between Renault and Geely, which is less than the previously rumored 20% stake, according to foreign media reports.

　　The deal is said to value Horse Powertrain at around EUR7.4 billion. Saudi Aramco signed a letter of intent in March 2023 to become a minority shareholder in Horse Powertrain, which was formally established on 31 May 2024 and is expected to have annual revenues of about EUR15 billion and an annual production capacity of about 5 million power systems.