28 May '18, 3pm

PSA forms a JV with Nidec for electric traction motors

PSA Group and Japan-based Nidec have announced the establishment of Nidec-PSA emotors, a joint venture dedicated to the design, development, manufacture and sale of electric traction motors. The agreement was recently formalized by MM Shigenobu Nagamori, CEO of Nidec, and Carlos Tavares, CEO of PSA Group . Both CEOs recognized the strategic importance of high-performance traction motor for electrified vehicles, and the two groups will invest 220 million euros to set-up this JV. This will support the electrification push, as 100% of PSA’s vehicle range will include an electrified offering by 2025. Forty engineers have already been recruited and joined the JV headquarters in Carrieres sous Poissy, near Paris, while thirty more engineers are expecting to join this site by the end of this summer. This team will design new traction electric motors to be produced in Tremery plan...

Full article: https://electriccarsreport.com/2018/05/psa-forms-a-jv-wit...

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