PSA, Nidec form 50:50 JV to develop, supply electric motor for electrified vehicles
JV will supply mainly to PSA, but will also serve other automakers
French automaker PSA Group has joined forces with Japan-based Nidec Corporation to establish a joint-venture (JV) to develop, produce and supply electric motors for electrified vehicles, the two companies said in separate press release today (4 December). The two companies will invest EUR200 million (around USD238 million) in the JV, which will be equally owned by PSA and Nidec.
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