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Electronics Production |
Nidec and Groupe PSA to form joint venture
Nidec Corporation and Groupe PSA, through Nidec Leroy-Somer Holding, intend to set up a joint venture dedicated to the design, development, manufacture and sale of electric traction motors.
The companies have now entered into a joint venture agreement – however, the closing of such transaction remains subject to antitrust clearance and employee representative consultation.
The aim of the partnership is to design, develop, manufacture and sell a range of electric traction motors. The joint venture will then engage in R&D, manufacturing and sales for high-performance electric traction motor mainly to Groupe PSA, and to other OEMs later, by combining PSA’s knowledge on automotive as OEM and Nidec Leroy-Somer’s expertise of motor and related electrical equipment.
The joint venture will be headquartered in Carrières sous Poissy, Paris region, France. The initial share capitals will amount to EUR 15 millions (and the companies will own a 50% share each).
