PSA Group and Nidec completed the establishment of a joint venture for automotive electric traction motors, announced first back in December.
Groupe PSA and Nidec to set-up a leading joint venture for automotive electric traction motor
The new company is named Nidec PSA emotors and both partners own 50% (Nidec Leroy-Somer Holding: 50%, PSA Automobiles SA: 50%).
Nidec PSA emotors begins with 40 employees at the HQ and development base in Carrières sous Poissy (Paris region) and the production base in Tremery (Grand Est region) in France. By the end of summer, 30 more engineers are to be hired.
The joint venture will be supplying electric powertrains for the PSA Group brands, which are Peugeot, Citroen, DS and Opel (Vauxhall).
It's expected that by 2022, 900,000 motors will be produced annually, which is a lot - especially taking into consideration current low sales of BEVs by the group.
1. Information on the Joint Venture: (1) Company name: Nidec PSA emotors (2) Headquarters and development base: Carrières sous Poissy, Paris region, France (3) Production base: Tremery, Grand Est region, France (4) Representative (CEO): Ghislain Boiteau, Nidec’s executive (5) Establishment: May 16, 2018 (6) Main business: R&D, production, and sale of automotive electric traction motors and inverters (7) Number of employees: 40 (the joint venture plans to hire additional 30
engineers by the end of summer 2018, and more inline with business expansion.)
(8) Initial share capitals: €15 million (9) Ownership: Nidec Leroy-Somer Holding: 50% PSA Automobiles SA: 50%