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Nidec, Groupe PSA Enter JV Agreement For Automotive Electric Traction Motor

Nidec Corp. (NJDCY.PK) announced the company 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. Nidec Leroy-Somer, acquired by Nidec in February 2017, is a motor company in France.

The companies said 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 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 transaction is expected to have no significant impact on Nidec's consolidated financial performance for the fiscal year ending March 31, 2018.

by RTTNews Staff Writer

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