Geely Automobile Holdings (HK:0175) has released an update.
Geely Automobile Holdings Limited has announced the successful completion of their contribution to the joint venture company, Horse Powertrain Limited, based in London. The company, in partnership with Geely Holding and Renault, now holds a combined 50% stake in the JV, with the remaining 50% owned by Renault. Horse Powertrain will operate independently, with its financial results not being consolidated into Geely Automobile’s financial statements.
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