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Motors giant Nidec enters into $260 million joint venture with automaker PSA

Nidec, one of the world’s largest suppliers of motors and other industrial components, has entered into a joint venture with global automaker PSA Group.

The “Nidec-PSA emotors” joint venture has been created by Groupe PSA and Nidec to initiate the design of “future electric motors”.

Shigenobu Nagamori, CEO of Nidec, and Carlos Tavares, CEO of Groupe PSA, endorsed the establishment of Nidec-PSA emotors, saying the new business will be “dedicated to the design, development, manufacture and sale of electric traction motors”. 

Forty engineers have already been recruited and joined the new company headquarters in Carrières sous Poissy, near Paris.

By end of summer, 30 more engineers are expecting to join this site where a dedicated research and development area has been created.

They will design new traction electric motors to be produced in Tremery plant, in the Moselle area of France, and integrated in mild-hybrid electric vehicles and plug-in hybrid vehicles.

Both CEOs recognized the strategic importance of high-performance traction motor for electrified vehicles, and the two groups will invest €220 million ($258 million) to set up this joint venture.

The companies say the initiative will support the electrification push, as 100 percent of the Groupe PSA vehicle range will include an electrified offering by 2025.