PSA teamed up with Japan's Nidec layout motor and electric vehicle market
According to foreign media reports, PSA Group announced that it will invest a total of 220 million euros ($261 million) in the construction of a motor joint venture with Nidec in Japan.
The two sides said in a speech on Monday that the joint venture company will design, develop and produce motors for PSA and other car companies. The motor will be used primarily in pure electric, plug-in hybrids and mild hybrids. PSA Supervisor PatriceLucas expects the joint venture's motor capacity to reach 900,000 units by 2022. The motor will be deployed in Peugeot, Citroen and DS models, as well as models sold by Opel and Vauxhall.
PSA and power products are expected to double the market value of the automotive motor market to 45 billion euros by 2030. With the increase in the development of electric vehicles and autonomous driving technologies in the global market, the company expressed its hope to become a global auto parts supplier with Bosch and Denso.
The medium-term strategic goal of the electric power industry is that the mid-term sales of automobiles will increase from 700 billion yen to 1 trillion yen in 2020. The electric motors produced by the company produce products such as hard drives, elevators, and automobiles, and they control an American motor brand.
The recent acquisitions of electric power products are continually hoping to acquire new automotive technologies through mergers and acquisitions to gain a foothold in the booming market in the future. Electric Power announced last week the acquisition of driveXpert, which is primarily responsible for the production of electronic control units for automobiles. At the beginning of the year, the company also acquired the motor and power generation business of Emerson Electric in France and the driving business of Emerson Electric in the UK.
The transaction also needs to be confirmed by antitrust organizations and negotiated with employee representatives. The headquarters of the joint venture company will be located in the Carrieres-sous-Poissy area near France.
PSA electric vehicle development plan
As part of CEO Tang Weishi's “PushtoPass” program, PSA will achieve electrification of 80% of its models by 2023.
The pure electric version of the Peugeot 208 and DS3 Crossback mini-car will be launched in 2019, and the cruising range is expected to reach 300km. The Peugeot 2008 small SUV will be launched in 2020. Plug-in hybrid models include compact crossovers based on the EMP2 platform, such as the DS7 Crossback, which was launched in 2019, the Peugeot 5008 and the Citroen C5Aircross. The Peugeot 3008 and the Opel/Vauxhall GrandlandX small crossover will also be available in plug-in hybrid versions.