The petrol and diesel engine is not as dead as you might think. At least Geely, which owns Volvo, is now massively into the internal combustion engine.
Volvo is quite adamant that, for their part, the internal combustion engine is completely finished by 2030 at the latest.
But if you ask the owner, Chinese Geely Holding, the answer is not so certain. In fact, far from it. So now a collaboration with the Renault group on internal combustion engines is a reality.
The partners call the company Horse Powertrain, and there are plans to make the business one of the world's absolute largest suppliers of internal combustion engines.
This is stated by the new company in a press release .
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Investments must be made in both hybrid technology and alternative fuels, so that the French-Chinese-Japanese (Mitsubishi and Nissan are part of the Renault group, ed.) collaboration can build 5 million engines a year.
Horse Powertrain expects to employ a good 19,000 people around the world. Just like the expected turnover, it is over 100 billion Danish kroner every single year.
– In order for the industry to reach the goal of net zero emissions in the coming decades, global synergies, more technologies and sharing of expertise are decisive.
We are therefore delighted that our partnership with the Renault Group is reaching commercial reality today. Horse Powertrain Limited will have the portfolio, scale and capacity to offer the low-emission solutions that tomorrow's automotive industry requires.
– Today's launch marks a new chapter in sustainable mobility, and we at Geely are proud to play a role, says Geely's chairman and founder Li Shufu in the press release.
However, Shufu will not be responsible for the day-to-day operation of the new engine supplier. Matias Giannini, who has previously been on both Ford and Jaguar-Land Rover's payroll, takes on that role.
The person in charge at Luca de Meo is also delighted that they are now going to start building the many internal combustion engines.
The collaboration, says Luca de Meo, provides the opportunity to create combustion engines with 'an ultra-low CO2 output' and hybrid technology that is something for the future.
Read more exciting news from and about the world of cars right here!
