HORSE

What HORSE does

Horse Powertrain is a powertrain technology company formed in 2023 as a 50:50 joint venture between Renault Group and Geely, headquartered in London (UK) with primary operations in Spain. The company designs and manufactures integrated powertrain systems and standalone powertrain products, including combustion engines, hybrid architectures, transmissions, and range extenders, serving automotive OEMs worldwide. With approximately 19,000 employees, operations across 7 countries (Argentina, Brazil, Chile, Portugal, Romania, Spain, Turkey) spanning 3 continents, and 5 global R&D facilities, Horse operates at a scale typical of tier-one automotive suppliers.

The company's product portfolio spans three main lines: (1) X-Range Powertrain Systems, described as the industry's first complete toolkit for adding hybrid capability to BEV-native platforms, including the C15 range extender and F15 Direct Drive; (2) FUSION Products (W30 + 4LDHT), a next-generation hybrid system combining a lightweight 3.0L V6 engine with a multi-gear dual-motor transmission; and (3) standalone combustion engines including the H13 1.3-liter flex-fuel engine and the V6/V8 engines developed for Lotus. Underlying technology includes Amorphous Motor Technology for improved efficiency, Virtual Twin digital manufacturing (developed with Dassault Systems), and the Matrix Flow production system deployed at the Aveiro Plant in Portugal. Smart factory initiatives have reportedly achieved 50% energy consumption reduction and 25% factory footprint reduction at Aveiro.

Horse generates revenue through three primary streams: powertrain systems sales (hardware), engineering services (custom development for OEM partners), and technology licensing. The business model is B2B OEM-embedded with no public pricing; contracts are negotiated directly with manufacturers on a quote basis, typically structured as multi-year agreements. The go-to-market motion relies on direct supply relationships with major automotive groups, with strategic partnerships including Renault (E-Tech hybrid system for Boreal production), Lotus (V8 for upcoming Esprit supercar), and Brazilian market OEMs. Distribution is exclusively through OEM channels, with localized production in key markets including Brazil, Turkey, and Portugal to serve regional demand.

Name

HORSE

Legal name

Horse Powertrain Ltd

Website

https://horse.cars

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Horse Powertrain is a 50:50 joint venture between Renault Group and Geely, designing and manufacturing powertrain systems including combustion engines, hybrid architectures, transmissions, and range extenders for automotive OEMs across 7 countries globally.

Ownership category

akta.pro rank

Product category

Automotive Powertrain Systems

NAICS

Motor Vehicle Transmission and Power Train Parts Manufacturing (33635), Motor Vehicle Gasoline Engine and Engine Parts Manufacturing (33631), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

SIC

Engines & Turbines (3510), Motors & Generators (3621)

akta.pro primary industry

Hybrid Powertrain Integration Manufacturing (ICE-HEV/PHEV modules) (IMACAHAJ)

akta.pro secondary industries

Internal Combustion Engine (ICE) Manufacturing (Gasoline/Diesel) (IMACAHAA), Transmission & Transaxle Manufacturing (Manual/Automatic/DCT/CVT) (IMACAHAE), Engine Components & Subsystems Manufacturing (Blocks/Heads/Valvetrain/Pistons) (IMACAHAB), Powertrain, Engine & Drivetrain Parts Distribution (New/Reman) (TLAKAOAE)

Keywords

• Powertrain systems
• Hybrid vehicle systems
• Combustion engines
• Range extender solutions
• Automotive transmissions

Headquarters

HQ city

Alcobendas

HQ country

Spain

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Powertrain Systems Sales: Horse Powertrain generates revenue through the design, development, and sale of integrated powertrain systems and standalone powertrain products (combustion engines, hybrid systems, transmissions, range extenders) to automotive OEMs worldwide.
2. Engineering Services: The company provides advanced engineering services to OEM partners, delivering integrated systems and specialized engineering support tailored to specific customer needs across regions and vehicle types.
3. Technology Licensing: Horse Powertrain licenses its proprietary technologies and powertrain designs to automotive manufacturers, enabling broader deployment of its innovations across the industry.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

Horse Powertrain designs, manufactures, and supplies highly efficient integrated powertrain systems and standalone powertrain products — including combustion engines, full hybrid architectures (E-Tech, X-Range), multi-gear transmissions, and range extenders (X-Range C15, F15 Direct Drive) — for automotive OEMs worldwide. The company also delivers advanced engineering services and licenses its proprietary technologies to vehicle manufacturers across every region and fuel type.

Product overview

Horse Powertrain is a powertrain technology company formed in 2023 as a strategic partnership between Renault Group and Geely, designing and delivering highly efficient integrated powertrain systems and standalone powertrain products. The company operates a platform-plus-modules architecture offering: (1) X-Range Powertrain Systems - the industry's first complete toolkit for adding hybrid capability to BEV-native platforms, including C15 and F15 Direct Drive range extenders; (2) FUSION Products (W30 + 4LDHT) - a next-generation hybrid system combining a lightweight 3.0L V6 engine with a multi-gear dual-motor transmission; (3) Integrated Powertrain Systems combining combustion engines, hybrid solutions, transmissions, and range extenders from their portfolio. Standalone products include combustion engines (H13 1.3L flex-fuel), E-Tech hybrid system, and V6/V8 engines developed for Lotus. The company also operates smart factory technologies including Matrix Flow production system and Virtual Twin technology developed with Dassault Systems. HORSE serves automotive OEMs globally across combustion, hybrid, and electric vehicle segments.

Differentiator

Problem solved

Functional benefit

Products and services

• X-Range Powertrain Systems The industry's first complete toolkit for adding hybrid capability to BEV-native (battery electric vehicle) platforms, enabling OEMs to retrofit EV architectures with hybrid powertrains. Includes the C15 and F15 Direct Drive models. Targeted at automotive OEMs transitioning between BEV and hybrid technologies.
• X-Range C15 Range Extender A compact range extender system designed for electric vehicles, providing extended driving range through an integrated compact powertrain solution. Targeted at automotive OEMs building extended-range electric vehicles.
• X-Range F15 Direct Drive A direct-drive range extender system for electric vehicles, showcased at the Beijing Auto Show 2026. Targeted at automotive OEMs building extended-range electric vehicle platforms requiring direct-drive architecture.
• W30 + 4LDHT Hybrid System (FUSION Products) A next-generation hybrid system combining a lightweight 3.0L V6 engine with a multi-gear dual-motor transmission for enhanced performance and efficiency. Targeted at automotive OEMs seeking high-output hybrid powertrains.
• Combustion Engines Highly efficient combustion engines for various vehicle applications, including the H13 1.3-liter flex-fuel engine. Targeted at automotive OEMs across multiple vehicle segments.
• Hybrid Systems (E-Tech and X-Range) Full hybrid architectures including the E-Tech hybrid system and X-Range solutions for multiple fuel types, delivering fuel economy such as 4.8L/100km. Targeted at automotive OEMs requiring complete hybrid powertrain solutions.
• Transmissions Multi-gear dual-motor transmissions designed for hybrid and electric vehicle applications. Targeted at automotive OEMs requiring advanced transmission solutions for electrified powertrains.
• Range Extenders Compact to full-range extenders for electric vehicles, including the X-Range C15 and F15 Direct Drive models. Targeted at automotive OEMs building extended-range electric vehicles.
• H13 Engine A 1.3-liter flex-fuel engine produced in Curitiba, Brazil, used in Brazilian market vehicles and motorsport applications. Targeted at the Brazilian automotive market.
• E-Tech Hybrid System Hybrid system used in Renault Boreal production, achieving 4.8L/100km fuel economy, and enabling localized production. Targeted at Renault and partner OEMs.
• Lotus V8 Engine A brand-new V8 engine developed from the ground up with emphasis on low weight and compact packaging for Lotus's upcoming mid-engined Esprit (Type 135) supercar. Targeted at Lotus and high-performance sports car OEMs.
• Lotus V6 Engine New V6 engine developed for hybrid versions of the Lotus Emira and upcoming supercars. Targeted at Lotus and performance sports car OEMs.
• Integrated Powertrain Systems Powertrain systems combining several products from Horse's portfolio (combustion engines, hybrid solutions, transmissions, and range extenders) for OEMs. Targeted at automotive OEMs seeking integrated multi-product powertrain solutions.

Quantifiable outcome

• Operational efficiency improvement of 10-25% through Virtual Twin technology
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered flagship, minor and core.

• LotusflagshipStrategic or Co-development Partner · 1 May 2026Horse Powertrain is developing a brand-new V8 engine for Lotus's upcoming mid-engined Esprit (Type 135) supercar. The V8 is being developed from the ground up with emphasis on low weight and compact packaging. This represents a significant engineering partnership as Lotus moves away from outsourced engines toward internally developed powertrains.
• SRB (Sports & Racing Brazil)minorStrategic or Co-development Partner · 1 December 2025Partnership to develop and supply engines for a new Brazilian pick-up truck racing category debuting in 2027. Vehicles will use the HORSE H13 1.3-liter flex-fuel engine produced in Curitiba, aiming to reduce emissions and enhance performance.
• Dassault SystemscoreTechnology or Integration · 1 September 2024Partnership for Virtual Twin project launched in September 2024, creating digital replicas of manufacturing processes to optimize operations. The technology claims to boost operational efficiency by 10-25% and reduce product development times by up to 50%.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• BorgWarner: BorgWarner is a leading supplier of ICE and hybrid powertrain components including transmissions, e-motors, and range extender systems. Directly competes with Horse in hybrid drivetrain modules and electrified propulsion for OEMs.
• ZF Friedrichshafen: ZF supplies transmissions, driveline, and electrified powertrain systems to OEMs worldwide, including hybrid modules. Highly comparable as a global Tier-1 directly competing in the same hybrid and transmission categories as Horse.
• Aisin: Aisin is a major Japanese transmission and powertrain component supplier with deep hybrid system expertise (notably for Toyota). Comparable to Horse as a global Tier-1 specializing in transmissions and hybrid powertrain integrations for OEM customers.
• Magna Powertrain: Magna Powertrain designs and manufactures driveline, powertrain, and electrified propulsion systems for global OEMs. Directly comparable to Horse's integrated powertrain systems portfolio, including 4WD and hybrid eDrive solutions.

Broad incumbents

• Stellantis Powertrain Operations: Stellantis operates in-house powertrain manufacturing across ICE, hybrid, and BEV for its 14 brands. Directly comparable as a major OEM-backed powertrain supplier competing for the same hybrid bridge opportunity that Horse targets with X-Range.
• Robert Bosch (Automotive Powertrain): Bosch is one of the world's largest Tier-1 suppliers of powertrain components and systems, including hybrid and electric drive solutions. Comparable as a deep-R&D competitor in combustion engines, transmissions, and electrified powertrains serving global OEMs.
• Schaeffler (Automotive Technologies): Schaeffler supplies powertrain components including transmissions, hybrid modules, and e-motors to OEMs globally. Comparable as a Tier-1 player in the same electrified powertrain value chain as Horse.
• Valeo: Valeo is a major French automotive supplier with significant powertrain electrification product lines, including 48V hybrid systems. Comparable to Horse as a European-headquartered Tier-1 competing in hybrid and electrified propulsion.
• Continental (Automotive Group): Continental supplies powertrain and hybrid/electric drive technologies to OEMs worldwide through its Automotive group. Comparable to Horse as a broad incumbent Tier-1 with overlapping electrified powertrain capabilities.
• Renault Group Powertrain (legacy internal): Renault's retained powertrain engineering capabilities post-Horse spin-off. Comparable as a parent-affiliated entity whose strategic decisions on in-sourcing versus sourcing from Horse directly shape Horse's captive demand.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/horsepowertrain
• Xx.com/HorsePowerTrain

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HORSE