Punch Powertrain PSA e-transmissions, the joint venture between the French PSA Group and the Belgian transmission manufacturer Punch Powertrain, has now been established following official approvals. The company started operations on 17 September.
PSA and Punch Powertrain had first envisioned the joint venture two years ago. Now Punch Powertrain holds a 61 per cent majority stake in the new company and will initially produce PSA’s DT2 dual-clutch transmission Hybrid for mild and plug-in hybrids. Later, Punch Powertrain PSA e-transmissions will also supply other vehicle manufacturers.
The DT2 departs from 48V and High Voltage hybrid infrastructures as a design base. According to the JV, this allows “full integration and extensive optimization” for the hybrid system.
Operations will commence with over 300 people, transferring from Punch Powertrain. Next to Elias van Wijk as CEO, the executive team comprises two leaders appointed by Punch Powertrain and two by Groupe PSA.
The company is headquartered in Sint-Truiden, Belgium, at the site of Punch Powertrain with a second location in Eindhoven in the Netherlands. As part of the initial agreement, Punch Powertrain contributes its DT2-related business unit to the new entity.
This is the second joint venture between the two partners. In July they had established the ‘Punch Powertrain PSA e-transmissions assembly’ dedicated to the assembly of the DT2 transmission at PSA’s facility in Metz, France.
Punch Power train belongs to the Chinese Yinyi Group. Previous owners include ZF and DAF.
- ADVERTISEMENT -