🚖Nidec and Groupe PSA Completes the Establishment of Joint Venture for Automotive Electric Traction Motors
As announced on December 4, 2017, Nidec Corporation (TSE: 6594; OTC US: NJDCY) (“Nidec”) and Groupe PSA have completed the establishment of the joint venture that develops, manufactures and sells automotive electric traction motors.
The profile of the joint venture is as follows.
1. Information on the Joint Venture:
(1) Company name:
Nidec PSA emotors
(2) Headquarters and development base:
Carrières sous Poissy, Paris region, France
(3) Production base:
Tremery, Grand Est region, France
(4) Representative (CEO):
Ghislain Boiteau, Nidec’s executive
(5) Establishment:
May 16, 2018
(6) Main business:
R&D, production, and sale of automotive electric
traction motors and inverters
(7) Number of employees:
40 (the joint venture plans to hire additional 30
engineers by the end of summer 2018, and more in line with business expansion.)
(8) Initial share capitals:
€15 million
(9) Ownership:
Nidec Leroy-Somer Holding: 50%
PSA Automobiles SA: 50%
Nidec Corporation
http://www.nidec.com/en-Global/corporate/news/2018/news0516-01/