India poised to approve $370 million horse powertrain jv engines project
India is about to approve a massive $370 million investment from Horse Powertrain Ltd. a joint venture between China's Geely and France's Renault.
The plan? Build advanced hybrid engines at Renault's Chennai factory, thanks to recent policy changes that make it easier for neighboring countries to invest here.
This would be one of the biggest China-linked manufacturing deals India has seen in years.
Hybrid powertrains for Renault and Nissan
Horse Powertrain will produce hybrid powertrains, combining traditional engines with electric motors, for Renault and Nissan cars, including the upcoming Renault Duster SUV.
Even with past restrictions on Chinese investments, this move shows how much demand there is for hybrids as India pushes for better fuel efficiency and a shift toward electric mobility.
The government's expected approval signals a fresh approach to foreign investment, and could help turn India into an even bigger player in global car manufacturing.