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Engine Maker Horse Powertrain Files for India Entity After Small Car Tax Cut
Horse Powertrain, formed from Renault and Geely operations, is establishing a presence in India following a federal sales tax reduction on small gasoline cars. CEO Matias Giannini outlined plans for partnerships, imports, and eventual local manufacturing to supply and export engines. The move targets India's third-largest car market amid demand for 1.2-litre efficient engines.
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Engine maker Horse Powertrain has filed to set up its own legal entity in India, aiming to capitalize on increased demand for small cars after a federal sales tax cut. Prime Minister Narendra Modi's government reduced the sales tax on small cars to 18% from 28% in September. 2 litres or below.
India stands as the world's third-largest car market. Horse hopes for a positive outcome on the legal entity some time in the third quarter of 2026. ' The company's goal is to supply to the Indian market and export from there to other markets.
Giannini spoke on the sidelines of the Beijing auto show, which opened to the media on Friday. U.S. Headquartered in London, Horse was formed in 2024 out of the carved-out combustion engine operations of French carmaker Renault and China's Geely.
The company supplies fossil-fuel engines and hybrid systems to carmakers. Horse operates 18 plants across Europe, China, and Latin America. It also runs five research and development centres across Europe, China, and Latin America.
Horse's customers include Renault, Geely, Volvo, Mercedes-Benz, and Nissan. Giannini said the company was in talks with all top-tier carmakers.
