A new company developed by French carmaker Renault and China’s Geely, and headquartered in the United Kingdom, is set to design, develop, produce, and sell hybrid and combustion powertrains. The new company called HORSE Powertrain will be headquartered in London. Renault and Geely each has 50% stake in the new company. The respective operational entities of HORSE Powertrain, namely Horse and Aurobay, will be deconsolidated respectively from Renault Group and Geely. Matias Giannini has been appointed chief executive of HORSE Powertrain limited. Lee Ma and Juan Ferrera are respectively appointed…