Aramco finalises 10% stake in Horse Powertrain Limited

Saudi Aramco has successfully completed the acquisition of a 10% equity stake in Horse Powertrain Limited, a leading supplier of advanced electrification technologies. This move aligns with Aramco’s strategy to diversify its energy portfolio and strengthen its focus on sustainable and efficient energy solutions.

Horse Powertrain, headquartered in the United Kingdom, specialises in high-performance hybrid and electric vehicle technologies. With seven global plants, including major facilities in Europe and Asia, the company employs over 1,800 professionals, supporting operations in more than 30 countries. This investment solidifies Aramco’s commitment to advancing cleaner mobility solutions and aligns with the company’s broader sustainability objectives.

The collaboration aims to enhance research and development in advanced propulsion systems, focusing on reducing emissions and improving fuel economy. The partnership is also expected to accelerate Horse Powertrain’s global expansion and strengthen its leadership in next-generation vehicle powertrain systems.

Ahmed Al Subaey, Aramco executive vice president of Downstream, expressed optimism about the partnership. “Addressing transport emissions requires a wide range of approaches that consider the diverse nature of the global vehicle fleet, broad disparities in transport infrastructures, and the specific needs of motorists in different countries. At Aramco, we are pursuing a number of potential innovative solutions, from lower-carbon synthetic fuels to more efficient internal combustion engines, as we look for opportunities to make a difference. Our investment in Horse Powertrain builds on our considerable R&D in this field. In joining forces with two of the world’s leading carmakers, we aim to leverage our collective knowhow to take lower-emission mobility solutions forward.” 

Matias Giannini, chief executive officer of Horse Powertrain, said: “We are delighted that Aramco has closed its investment in Horse Powertrain. Aramco’s expertise in alternative and synthetic fuels makes Aramco the ideal partner for us to deliver lower-emission powertrain solutions. By strengthening our technology leadership with this partnership, Horse Powertrain will only become more valuable as a partner to automotive brands looking to benefit from our expertise and global production footprint.”

Jamal Muashsher, chief executive officer of Valvoline Global Operations, said: “As a technical partner and supplier to Horse Powertrain, we look forward to applying Valvoline Global’s 150-plus years of automotive expertise and tradition of innovation to advance future-ready solutions in internal combustion engine technology, fuels, and lubricants. Our newest joint effort with Horse Powertrain and Aramco builds on Valvoline Global’s strong history in original equipment manufacturer partnerships. Through collaboration, we are helping to shape the next generation of mobility.”

This acquisition marks a significant milestone in Aramco’s diversification efforts, reinforcing its commitment to innovation and sustainable development in the evolving automotive and energy landscapes.