Global energy company Aramco has completed the purchase of an equity stake in Horse Powertrain, a developer of hybrid and internal combustion powertrain solutions.
“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,” says Aramco’s Ahmad O. Al Khowaiter. “Our investment in Horse Powertrain builds on our considerable R&D in this field.”
Aramco’s investment is expected to accelerate Horse Powertrain’s efforts to develop next–generation ICE and hybrid powertrains, along with complementary technologies like alternative fuel and hydrogen solutions.
As part of the transaction, Aramco and affiliate Valvoline Global Operations will also collaborate with Horse Powertrain on innovations in ICE technology, fuels and lubricants.
