India set to approve $370 million horse powertrain hybrid engines investment
India is set to approve a massive $370 million investment from Horse Powertrain Ltd. a joint project between China's Geely and France's Renault.
It's one of the biggest Chinese-backed manufacturing deals since 2020, and the cash will go toward making advanced hybrid engines at Renault's Indian plants, giving local production a real boost.
Horse Powertrain to start in Chennai
Horse Powertrain, launched in 2024 with 18 global factories and nearly 19,000 employees, will kick things off at Renault's Chennai facility.
Here, it will build hybrid powertrains that combine traditional engines with electric motors for both Renault and Nissan cars in India, including the upcoming Renault Duster SUV set to drop later this year.
Deal follows India's foreign investment easing
This deal is expected to go through after India relaxed its foreign investment rules in March to attract manufacturers and ramp up domestic output.
It shows how hybrids are getting more attention as carmakers look to improve fuel efficiency while slowly moving toward fully electric vehicles.