India is expected to approve a $370 million investment by Horse Powertrain, a hybrid-engine company backed by China's Zhejiang Geely Holding Group. The investment, one of the largest by a Chinese-linked firm in New Delhi in recent years, aims to support advanced hybrid powertrain and engine production. The announcement came on June 25, 2026, according to livemint.com.
Horse Powertrain's other major shareholder is Renault SA, the French automaker. The investment will enable Horse Powertrain to expand Renault's manufacturing operations in India. Bloomberg reported that the company plans to build advanced hybrid powertrains and engines in New Delhi, marking a strategic move to strengthen hybrid vehicle production capabilities in the region.
This investment is significant amid growing demand for hybrid and electric vehicles in India, aligning with the country’s push for cleaner automotive technologies. It also represents one of the largest manufacturing investments by a Chinese-linked company in India recently, highlighting increasing cross-border industrial collaboration. The deal follows other major investments in the hybrid and electric vehicle sector, reflecting the broader shift in the automotive industry towards sustainability.
The approval process is underway, with Indian authorities reviewing the proposal. Once approved, the $370 million investment will bolster India’s hybrid engine manufacturing capacity and support Renault’s local production ambitions. The development was reported on June 25, 2026, by livemint.com.