PSA and Japanese Nidec to build electric motors in France
French PSA Group (Peugeot-Citroën-DS-Opel) and Japanese electric motor maker Nidec are going to set up new R&D facilities and a factory to produce electric motors for the automotive industry. A joint-venture agreement between the two parties was announced on Monday in Paris.
220 million investment
The creation of the new company is scheduled for March-April 2018 with an initial investment of 220 million euro. Each party will have half of the shares. The headquarters of the new company of which the name is still to be determined, will be at the PSA site of Carrières-sous-Poissy close to Paris.
Jobs for 500 people
The factory for building electric motors will be situated at another PSA site, the one at Trémery en Moselle where PSA’s combustion engines are build today. According to Patrice Lucas, Program and Strategies Director at PSA, the R&D centre will employ some 100 engineers and the production factory could provide jobs for some 400 people.
Deliver to other car makers too
The joint-venture will be responsible for the development, manufacturing and the commercialization of electric drive motors. “This alliance lets us develop high tech electric motors for electric vehicles (hybrids, plug-in hybrids and full electric)”, PSA says. “It will will respond in the first place to the needs of the PSA group, but can deliver to other car manufacturers too.”
The Japanese Nidec group, employing 7.200 people, is the world leader in precision electric motors like the ones used in hard drives for computers, but also for automotive use. If foresees a turnover in automotive of 5,4 to 4,6 billion euro by 2020. PSA and Nidec estimate the total market for electric drives to achieve 45 billion euro by 2030.