Groupe PSA and Nidec have formed a joint venture dedicated to the design, development, manufacture and sale of electric traction motors.
Some forty engineers have already been recruited and joined the JV headquarters in Carrieres sous Poissy, near Paris. By end of summer, thirty more engineers are expecting to join this site where a dedicated R&D area has been created. They will design new traction electric motors to be produced in Tremery plant, Moselle area, in France, and integrated in Mild-hybrid ("MHEV"), Electric Vehicles ("EV") and Plug-in Hybrid ("PHEV") vehicles.
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Both CEOs recognised the strategic importance of high-performance traction motor for electrified vehicles, and the two groups will invest EUR220m (US$257.6m) to set-up this JV. This will support the electrification push, as 100% of Groupe PSA vehicle range will include an electrified offering by 2025.
Nidec PSA emotors will have a headquarters and development base in Carrières sous Poissy, Paris region, France.
The production base will be at Tremery, Grand Est region, France.
The initial share capital is EUR15m, with ownership split:
- Nidec Leroy-Somer Holding: 50%
- PSA Automobiles SA: 50%
