French PSA Group and Japan’s Nidec have finalised their planned joint venture. Together they will develop and sell motors for all-electric as well as hybrid vehicles. The new company called Nidec PSA emotors that both own 50 per cent of is based at Carrières-sous-Poissy close to Paris.
The joint venture of PSA and Nidec had been in the making since last December when we first reported that the partners were to implement a 220m euro JV to develop electric motors for BEVs as well as HEVs. The initial share capital is 15 million euros.
As a facility focussed on research, Nidec PSA emotors employs 40 people to start with but plans to hire another 30 engineers throughout summer.