2023-06-14 10:43:27
The Renault Management has met this Wednesday, June 14, the board of spokespersons of the inter-centre committee to officially communicate that the headquarters of Horse Holding will be established in Spain. It will be Madrid where the multinational will establish the new joint venture with Geely and Aramco, dedicated to the development of internal combustion engines, hybrids and new technologies such as e-fuels.
With the Horse project, the new company is expected to operate in 17 engine and transmission mechanical plants on 3 continents, employing a total of about 10,000 workers, of which about 3,500 will be Spanish. It will have a combined capacity of more than 5 million internal combustion, hybrid and plug-in hybrid engines and transmissions per year to serve more than 130 countries and regions. The combined product portfolio of Geely and the Renault group and the geographic footprint of the new company will enable it to offer solutions for 80% of the global internal combustion engine market.
Recently the CEO of Renault Group, Luca de Meo, explained that this association with China’s Geely to create the Horse joint venture will allow “to continue developing combustion engine and hybrid engine technologies, which will continue to be essential elements of the automotive supply chain in the world in the coming decades. We will be able to offer state-of-the-art powertrains and electrified solutions to many car brands around the world, thus unlocking the market potential of this low-emission technology.”
The UGT union, through a statement, affirms that with the establishment in Madrid of the headquarters of this new company, all the affected workers of Motors, in Valladolid, and Seville are “in luck” since this need “was vital.”
“We will have at our side the managers who are going to make decisions about the future of the seven countries,” explained the union, which insists that having its headquarters in Spain allows the managers of the new company to know “first-hand the good work” of Spanish workers and that “it will be easier” to maintain social dialogue for all negotiations.
The union has celebrated this requested decision “from the beginning” in the consultation period when the company reported that it was working with “different hypotheses” about the country of establishment of the Horse headquarters.
“We have come a long way to reach the goal”, the union has asserted, recalling that it has met with the Management of Renault Spain, with the newly appointed Management of Horse, with the Ministry of Industry, with the Ministry of Ecological Transition and with the Presidency of the Government to take into account the interests of Spanish factories in terms of their positioning regarding EURO7 emission regulations.
Geely Holding is a global automotive group with several well-known international automotive brands and its activities cover the entire automotive value chain, from R&D and conception to production, sales and after-sales. Founded in 1986 by Eric Li, the company’s president, in the city of Taizhou, in the Chinese province of Zhejiang, Geely Holding launched its automotive business in 1997 and is now headquartered in Hangzhou, China. Geely Holding operates a number of brands including Geely Auto, Lynk & Co, ZEEKR, Geometry, Volvo Cars, Polestar, Lotus, London Electric Vehicle Company, Farizon Auto and Cao Mobility. Geely Holding sold more than 2.2 million vehicles in 2021. The company sells most of its vehicles in the Chinese market, but has also expanded its sales through exports to other countries in recent years.
The Renault Group relies on the complementarity of its 4 brands (Renault, Dacia, Alpine and Mobilize) and is present in more than 130 countries, having sold 2.7 million vehicles in 2021. It is now working on the development of a new range of electrified vehicles. In line with environmental challenges, the Renault Group aims to achieve carbon neutrality in Europe by 2040.
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