LONDON: Saudi Aramco will buy a 10 percent stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at €7.40 billion ($7.93 billion). Geely and Renault will own around 45 percent each of the powertrain venture, called Horse Powertrain, which will supply gasoline engines, hybrid systems and gearboxes for thermal vehicles. Renault CEO Luca de Meo described the deal in a statement as creating a “dream team” that would “reinvent” the future of combustion-engine and hybrid technologies.