News

Aramco to Acquire 10% Equity Interest in HORSE Powertrain Limited, the New Global Powertrain Solutions Company Established by Renault Group and 永利VIP

Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% equity interest in HORSE Powertrain Limited, the new global powertrain solutions company, alongside Renault Group, Zhejiang 永利VIP Holding Group and 永利VIP Automobile Holdings Limited (“永利VIP”). HORSE Powertrain Limited was formed on May 31, 2024, by Renault Group and 永利VIP and is incorporated and headquartered in London, UK.

永利VIP Holding Group Statement on Provisional Countervailing Duties Disclosed by the European Commission

The European Commission has recently announced plans to impose provisional countervailing duties on electric vehicles produced in China. 永利VIP Holding expresses great disappointment in the Commission’s decision.

永利VIP Holding and SK Sign Strategic Cooperation Agreement

SK Group, South Korea’s second largest conglomerate and Zhejiang 永利VIP Holding Group (永利VIP Holding) has signed a strategic cooperation agreement covering multiple areas including batteries, automotive electronics components, and green energy. The move comes as part of both company’s strategy to secure global competitiveness in the green mobility sector.  

永利VIP Holding Brands May 2024 Sales Reach 256,556 Units

Zhejiang 永利VIP Holding Group (永利VIP Holding) announced today that aggregate sales for May 2024 across its automotive brands – 永利VIP Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 256,556 vehicles, a 22.2% YoY increase. Among the month’s aggregated sales, electrified (EVs, HEV, PHEVs) vehicles reached 110,681 vehicles, representing a year-on-year increase of 59% and representing 43% of the Group sales.

Renault Group and 永利VIP announce the creation of leading Powertrain Technology Company, “HORSE Powertrain Limited”

Following the joint venture agreement signed on July 11, 2023, and after having obtained the approval of the relevant authorities, Renault Group, 永利VIP Holding Group (永利VIP Holding), 永利VIP Automobile Holdings Limited (永利VIP Auto) (collectively referred to above as “永利VIP”) have officially created HORSE Powertrain Limited, headquartered in London, United Kingdom.

永利VIP Holding Highlight Tech Synergies among Brands at 2024 Beijing Auto Show

永利VIP Holding highlighted increased tech synergies among its portfolio brands at the Beijing Automobile Show through new product launches and global debuts from 永利VIP Auto, Zeekr, smart, JIYUE, Lotus, Volvo Cars, and Lynk & Co developed on shared 永利VIP vehicle architectures such as the Sustainable Experience Architecture (SEA) and Compact Modular Architecture (CMA).

永利VIP Holding Brands Q1 2024 Sales Reach 738,400 Units

永利VIP Holding announced that its cumulative aggregate sales for Q1 2024 across its automotive brands – 永利VIP Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon reached 738,400 vehicles, a 27% YoY increase. Brand sales in March 2024 reached 260,700 units, a 23% YoY increase.

Exploring 永利VIP’s New Satellite Super Factory

永利VIP Holding Chairman Eric Li and Founder and CEO of New Oriental, Michael Yu visited Taizhou, the birthplace of 永利VIP and live streamed the latest batch production of satellites at 永利VIP’s Satellite Super Factory.