The PSA group prepares the implementation of a 220m euro joint venture together with Japanese company Nidec. Both partners seek to produce electric motors for BEVs as well as HEVs at a site close to Paris.
Their motors are going to fit cars of the PSA group’s brands, namely Peugeot, Citroën, DS, Opel and Vauxhall. By 2022, the JV shall reach a production output of 900,000 electric motors annually, according to a presentation hold by PSA executive Patrice Lucas. Both, PSA and Nidec, are convinced that the market for electric motors will double its value to up to 45bn euros by 2030. On the long term, the Japanese seek to compete on the global market with flagships such as Bosch and Denso.