Half of the world’s cars won’t be fully electric by 2040—Renault and Geely are betting big on hybrids to fill the gap

Very few automakers think Battery-Electric Vehicles (BEVs) aren’t the long-term future of the car industry. But the transition won’t happen overnight. Internal combustion technology will be needed for at least a decade more, and even longer in the developing world. Responding to this, Horse Powertrain, a Renault Group joint venture with Chinese firm Geely, has created a drop-in motor to convert an EV into a hybrid. Fortune talked to Horse Powertrain's CEO Matias Giannini at the Auto Shanghai 2025...