It will be located in Madrid.
Renault announced its plans for the future in 2022, which include the creation of different specialized business units depending on the approach and type of technology they use. One of them is Power (which, in turn, integrates Horse, which will include the combustion and hybrid branch), which will be based in Spain.
This is how they report from La Tribuna de Automoción, from where they point out that they will be located in Madrid, specifically at the headquarters that the French firm has in Alcobendas, on Avenida de Europa 1, in whose building it will have a specific space located on the third floor.
It will have its own organization and management team, independent from the Renault Group, which will be in charge of 17 factories and five R&D centers, with a workforce of 19,000 employees. In global terms, the new company will have an annual production capacity of five million propellers and manual gearboxes.
With regard to Spain, around 3,400 employees will become part of the company from the Renault Group, 18% of the total and 28% of the personnel currently operating for the subsidiary. The transfer will take place during the second half of 2023.
The large-scale project
To create both Power and the Horse project, the Renault Group will ally with Geely, with 50% control for each entity and each party contributing its facilities specialized in thermal and hybrid mechanics.
Thus, the French company has 9,000 workers, eight factories and three Research and Development centers; while China has 10,000 employees, nine plants and two R&D facilities.
The new company will be in charge of supplying the thermal and combustion systems to the brands belonging to both groups, including Dacia, Geely Auto, Volvo and Lynk & Co, among others.
The union between both entities will result in a turnover, from the beginning, of about 15,000 million euros.
