Aurobay Holding, as of 31st of May 2024, belongs to HORSE Powertrain Ltd. The content of this page is being updated to reflect all parts of Aurobay Holding.

News 2024-05-31

Aurobay looks to the future of next-generation powertrains as it joins global leader HORSE Powertrain Limited

Aurobay has officially joined HORSE Powertrain Limited, a new global leader in powertrain solutions, with 19,000 employees on three continents.

In HORSE Powertrain, Aurobay’s owners Geely (Geely Holding and Geely Auto) and Renault Group have formed an independent company at an exciting time for the industry. The new business designs, develops, produces and sells all hybrid and combustion powertrain solutions and systems with state-of-the-art technologies, including engines, transmissions, hybrid systems and battery solutions. It currently produces c.5 million powertrain units per year and expects to generate c.15 billion EUR in annual revenues.

HORSE Powertrain CEO Matias Giannini’s vision is of a collaboration to advance sustainable mobility: “This is a strategic partnership that creates value within the industry. I believe that by working together and combining our strengths we can successfully lead the way to net zero.”

Aurobay, which currently produces more than 3 million innovative hybrid engines, transmissions and battery solutions annually, brings some 10,000 employees and 9 manufacturing sites across Sweden and China to the new business.

Aurobay CEO Ruiping Wang is enthusiastic about Aurobay’s new era: “HORSE Powertrain will have the portfolio, scale and capacity to offer the leading hybrid and low-emission solutions demanded by the automotive industry of tomorrow. Today’s launch marks a new chapter in sustainable mobility.”

Michael Fleiss, CEO Aurobay Sweden, believes the time is right to join a larger entity and embrace the new opportunities this brings: “In the transition to low- or no-carbon mobility, there is strong demand among OEMs for a large standalone player with the capacity to provide next-generation hybrid powertrain solutions.”

HORSE Powertrain will be led by CEO Matias Giannini with a head office in London. Lee Ma and Juan Ferrera are respectively appointed Chief Financial Officer and Chief Human Resources Officer. Management of the two subgroups will remain unchanged, with Ruiping Wang of Aurobay headquartered in Hangzhou Bay, China and Patrice Haettel, CEO of Horse, in Madrid, Spain.

Read the press releases from Aurobay, Geely and Renault Group.