Horse power: Renault-Geely engine unit speeds up as EV shift stutters [Yahoo! Finance Canada]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
By Gilles Guillaume and Marie Mannes 4 min read In this article By Gilles Guillaume and Marie Mannes MUNICH/STOCKHOLM (Reuters) -When French carmaker Renault and China's Geely carved out their combustion-engine operations in 2022, the venture looked like a footnote to an outdated technology. Now, Horse Powertrain has a new lease of life. The joint venture aims to become the world's top engine maker by 2035, betting that legacy carmakers pivoting to EVs will still need suppliers to make combustion engines for them as the energy transition stutters. U.S. President Donald Trump is rolling back EV-friendly policies, Europe's automakers are lobbying against the EU's 2035 ban on new fossil-fuel cars, and EV sales are crawling forward in emerging markets. Pitching itself as a one-stop shop for automakers, producing everything from hybrid engines to the small combustion units that extend range in plug-in EVs, Horse is targeting annual revenue of 15 billion euros ($17 billion) b
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