During French President Emmanuel Macron’s visit to the Saft Nersac plant near Angoulême, in the Nouvelle-Aquitaine region, Total, through its affiliate Saft, and PSA with Opel, are announcing their plan to combine their know-how to develop EV battery manufacturing activity in Europe. To that end, the partners intend to establish a joint venture named Automotive Cell Company (ACC).
Automotive Cell Company (ACC) plant
Project will leverage cutting-edge R&D, notably provided by Saft, in order to produce EV batteries starting in 2023. Technology used will offer the highest level of energy performance, both in terms of range and charging time, and a lower carbon footprint than that of the competition, setting a new standard in Europe.
First phase of the project focuses on R&D, including building a pilot plant on the land of Saft’s Nersac facility. Plant is scheduled to start up in mid-2021 and represents an investment of 200 million euro. Project will generate around 200 high-skilledjobs in France’s Nouvelle-Aquitaine region to develop, qualify and commercially scale up new, high-performance lithium-ion batteries.
First phase will trigger the investment decision for a large-scale production plant (8 GWh initially, rising to 24 GWh later on) in the northern Hauts-de-France region, followed by a second one of equal capacity in Germany, in order to reach 48 GWh of combined capacity by 2030. That would represent production of one million batteries a year, or around 10-15% of the European market. Ultimately, nearly €5 billion will be required to complete this ambitious program.
Total and Groupe PSA acknowledge the support of French, German and European Union authorities for the project, expected to receive nearly €1.3 billion in public funding during its development in the frame of the Important Projects of Common European Interest (IPCEI) initiative authorized by the European Commission.
“In 2015, Total set an ambition to become the responsible energy major. With that in mind, we acquired Saft, a major battery maker, in 2016, primarily to develop energy storage to support the growth of intermittent renewable energies such as solar and wind. The fast-growing development of electric mobility offers Total, via Saft, another opportunity for growth and commitment to a decarbonized economy,” said Patrick Pouyanné, Chairman and Chief Executive Officer of Total. “With the support of French, German and European authorities, we will deploy our best expertise and technologies alongside our partner Groupe PSA, to create a competitive European battery industry.”
Carlos Tavares, Chairman of the Managing Board of Groupe PSA added: “Our purpose is to offer citizens mobility options that are clean, safe and affordable. I am convinced that this project, with our partner Total/Saft, will create a benchmark player in automotive battery cell development and production in Europe. I would like to thank the French and German authorities, the Nouvelle-Aquitaine and Hauts-de-France regions and Rhineland-Palatinate state for their active support, which is decisive in the creation of a competitive business backed by Total and its affiliate Saft, Groupe PSA and Opel.”
Automotive Cell Company (ACC) will be a 50-50 Saft and Groupe PSA/Opel joint venture for the pilot production line. During the commercial production phase, Saft’s share in ACC will decline to 33%.
European context
In 2019, European Union set ambitious, binding targets to quickly expand the sale of electric vehicles. European market for automotive batteries is estimated to reach around 400 GWh in 2030, or 15 times current needs, corresponding to more than seven million electric vehicles. European automakers therefore need to plan their battery supply strategy, since batteries represent more than a third of an electric vehicle’s added value.
Project’s implementation is contingent on securing the approvals of the relevant antitrust authorities.
About Total
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
About Saft
Saft specializes in advanced technology battery solutions for industry, from design and development to production, customization and service provision. For 100 years, Saft’s longer-lasting batteries and systems have provided critical safety applications, back-up power and propulsion for our customers. Our innovative, safe and reliable technology delivers high performance on land, at sea, in the air and in space. Saft is powering industry and smarter cities, while providing critical back-up functionality in remote and harsh environments from the Arctic Circle to the Sahara Desert. Saft is a wholly-owned subsidiary of Total, a major energy player that produces and markets fuels, natural gas and low-carbon electricity.
Sales increase for the 5th year in a row with improved pricing power, in a context of economic and geopolitical headwinds
Core Model strategy as a trigger: success of new launches and European leadership in Light Commercial Vehicles
This profitable growth, reaching circa 3.878.000 units, has been leveraged by Groupe PSA product offensive in motion with more than 70 regional launches in 2 years, customer driven Core Model Strategy deployment and commercial network commitment.
Groupe PSA products have been on all short final lists of prestigious automotive contests every year since 2014 and have been awarded this year “Van of the Year IVOTY 2019” (Peugeot Partner, Citroën Berlingo Van, Opel/Vauxhall Combo) and ‘Best Buy Car of Europe 2019’AUTOBEST (Citroën Berlingo Van, Opel/Vauxhall Combo Life and Peugeot Rifter), following Citroën C3 Aircross last year.
Groupe PSA Core technology has also been awarded with the International Engine of the Year prize for the 4th year in a row for its Turbo three-cylinder petrol engine (110 and 130 hp).
Groupe PSA SUV models are particularly successful, driven by the Peugeot 2008, 3008 [1], 5008 (leader in Europe), Citroën C3 Aircross[2], C3-XR, C5 Aircross, DS 7 Crossback, Opel/Vauxhall Crossland X, Mokka X, and Grandland X. The momentum will continue in 2019 with major launches for all brands.
The Group announced its electrification offensive for all brands, with first PHEV [3] and EV [4] models available for customers in 2019, starting with the DS brand.
Groupe PSA achieves new record LCV sales: 564 147 vehicles sold, + 18.3%.
Groupe PSA renewed its range of compact vans in 2016 and of B-LCV in 2018 and has consolidated its leading position in Europe in every sub-segments, grasping almost 1 out of 4 LCV customers.
The Group’s LCV offensive has set the basis for overseas growth with the successful launch of production of Peugeot Expert and Citroën Jumpy in Eurasia and the very promising start of our comprehensive range of LCV products and services for Latin American clients.
Europe [5]: Change of scale with 17.1% market share.
Groupe PSA took full advantage of its perfectly managed new WLTP standard implementation phase to gain a competitive edge in the last four months of the year. Group market share reaches 17.1% by end 2018, up +3.8 pt, underpinned by Peugeot and Citroën brands that are the best progressing brands in 2018, with almost +5% sales increase for both brands among the top 10 brands in Europe.
Peugeot stands out for its success: SUV European leader, number 1 in Spain, number 1 in France on B2C and B2B passenger cars. Citroën reaches its best level of sales in 7 years.
DS Automobiles marks a breakthrough with 6.7% of sales increase, supported by DS7 Crossback launch. Opel/Vauxhall is continuing its product offensive driven by the X family.
Groupe PSA exceeds market performance and is improving in all main markets: France (+2.6 pt), Spain (+4.2 pt), Italy (+3.9 pt), Great Britain (+4.8 pt), Germany (+3.7 pt).
Middle East – Africa: the Group remains offensive in a chaotic regional context.
Despite strong headwinds mainly due to wind down in Iran[6] and Turkish market downturn, Groupe PSA market share increased in Morocco (+1.7pt), Tunisia (+1pt) and Egypt (+3.1pt) and the Group remains market leader in French Overseas Departments.
The regional industrial footprint is under deployment to become operational in 2019 with the start of production of Kenitra plant in Morocco, as a key milestone.
China & South East Asia: Groupe PSA works to overcome China situation and prepares its commercial offensive in South East Asia.
In a declining Chinese passenger vehicle market (-2%), sales are down 34.2%. The Group is working on action plans with its partners to tackle current issues. The Group is implementing its electrification strategy with the Fukang brand, followed by PCD [7] electrified models from 2019 onwards. Moreover the core model strategy is under execution to propose a product offering designed for Chinese clients.
Sales in South East Asia doubled versus 2017, amounting to 10,882 vehicles. The joint venture with Naza Corporation Holdings (Malaysia) will start delivering its first productions in 2019 with the Peugeot 3008 and 5008.
Latin America: the drop in sales is largely linked to the strong decline of the Argentinian market (-32% in H2) related to the country’s economic context, with a significant exchange rate impact and a difficult Brazilian market, while sales remain well oriented in the Pan-American zone (54,887 units, +13,3%) – composed mainly by Chile, Mexico, Colombia, Peru, Uruguay and Ecuador.
The launch of the new C4 Cactus SUV industrialized in the region, is encouraging. The local manufacturing of the LCV range is in process (launch of the Jumpy MiniBus version, Berlingo, Boxer and Jumper in Brazil, Jumpy and Expert Crewcab in Argentina and the electric Partner in Chile and Uruguay).
India-Pacific: sales growth is notably driven by the Group successful business in Japan (+9.6%). The manufacturing project in India, developed in partnership with the CK Birla Group, is on track.
Eurasia: stable sales. Sales increase notably in Ukraine (+7%). The good dynamic of Peugeot 3008, C4 Sedan and the newly produced LCVs in Kaluga since April (Peugeot Expert and Citroën Jumpy) are encouraging.
“In an increasingly unstable environment, we thrived with the rigorous execution of our efficient core model strategy. The product appeal to our B2B or B2C customers supports our pricing power policy for all of our brands, while we are currently implementing our electrified offensive. Agility and Darwinian spirit are more than ever important to tackle forthcoming challenges and enhance our customer satisfaction” comments Carlos Tavares, Chairman of the Managing Board of Groupe PSA.
[1] Peugeot 4008 in China
[2] C4 Aircross in China
[3] PHEV: Plug-in Hybrid Electric Vehicle
[4] EV : Electric Vehicle
[5] PCDOV figures
[6] Iran: Volumes industrialized in Iran are not more recorded in consolidated sales since May 1st 2018
Opel targeting leading role in advancement of electric-mobility as part of the PACE! strategic plan
Project in the Engineering Center to start in a few months
and support creation of an intelligent charging infrastructure for
electric-mobility of tomorrow
Reflection of mobility situation in Hesse in 2035
Participation of the House of Energy think tank run by the Federal State of Hess
Opel Ampera-e
The Engineering Center at Opel’s company headquarters in Rüsselsheim will become a laboratory for electric-mobility: Together with Kassel University, FLAVIA IT and PLUG’n CHARGE, the two latter companies that specialize in charging infrastructure, the carmaker will conduct research into the ideal setup of the electricity grid for the future. The three-year project “E-Mobility-LAB Hessen” is scheduled to receive supportfrom the Hessian Ministry for Economy, Energy, Transport and State Development with funds provided by the European Regional Development Fund. In return, Opel will set up an intelligent charging and infrastructure system for electric cars in its Engineering Center. Installation of the first charging stations at the Opel site in Rüsselsheim and the Test Center in Rodgau-Dudenhofen will already start in a few months.
In total, more than 160 charging stations, which will charge the electric car fleet of the Engineering Center in future, will be created. Extensive and well-founded simulations of numerous scenarios will be possible based on actual data, ensuring the transferability of the results. The concept was developed together with House of Energy, the think tank of the Hessian energy transition.
This is a further milestone on Opel’s journey to playing a leading role in electric-mobility – a clear goal of the PACE! strategic plan. The Rüsselsheim-based carmaker will have four electrified models in its portfolio by the end of 2020. These will deliver a lot of driving pleasure and will accelerate the demand for electric cars. And by 2024, there will be electrified variant of each model in the Opel line-up.
“Opel will be electric. We are now creating the required charging infrastructure at our Engineering Center in Rüsselsheim and simultaneously supporting politics and the authorities in the creation of an appropriate charging infrastructure. One thing is clear: electric-mobility will only be a success if vehicle development and expansion of the charging infrastructure go hand in hand,” said Opel CEO Michael Lohscheller.
The share of electric vehicles in the manufacturer’s development area will reflect a mobility situation as expected for 2035. With this the project partners want to gain valuable insights into the charging behaviour and requirements relating to the network expansion. Charging current and charging time are adapted according to the particular use of the development vehicles with the help of an intelligent control system. This smart infrastructure will ensure that the entire fleet is always charged appropriately despite the high energy demands of the electric vehicles – and all this with a minimum expansion of the existing electricity grid.
“The energy transition is underway, now we need to make progress with the transport transition, especially in Hesse where around half of the energy demand can be attributed to transport. That is why we are driving electric-mobility by, amongst others, the widespread support for charging infrastructure. We are delighted that a Hessian carmaker in Opel will be playing an innovative and guiding part in developing the mobility of tomorrow,” said Tarek Al-Wazir, Deputy Prime Minister of the Federal State of Hesse.
In addition, a modular battery storage, which will reuse Opel Ampera-e batteries to temporarily store electricity, will be installed in the Test Center Rodgau-Dudenhofen. This so-called stationary “second life” application targets mitigating peak loads and thus stabilizing the electricity grid. A total of 18 vehicle batteries will be reused in the battery storage, which has the storage capacity to a supply a four-person household with electricity for a month.
The next PACE! milestone: Brand Concept vehicle previews future of Opel models
Expressing Opel values: German, approachable, exciting
Opel Vizor: Hallmark design for the new face of all future models
Visual and digital detox: “Pure Panel” redefines interior design
Electric Power: GT X Experimental stands for electrification of all Opel models by 2024
Opel concept vehicles: Designing the future for over 50 years
New Opel GT X Experimental
Opel is giving a preview of the exciting future of the brand with a new Brand Concept. Its name: the Opel GT X Experimental – a bold, 4.06-metre, 5-door, all-electric compact SUV with coupé appeal and brimming with innovative ideas. The GT X Experimental embodies Opel’s values and vision along with providing a glimpse of what the future holds for Opel models. The company had already announced that it would further sharpen its profile during the presentation of the strategic PACE! plan last November. Opel GT X Experimental is the first tangible result of this process.
Opel CEO Michael Lohscheller
“With our PACE! plan, we have a very clear vision of how we want to create a successful future for Opel. Focus on a strong brand identity defined by our values – German, approachable, exciting – plays an integral role in our return to sustainable success. Our Brand Concept shows how these values will come to life in our products in the future. Our engineering and design teams have put this into effect brilliantly in the Opel GT X Experimental. It gives a clear idea of how we at Opel see the mobility of the future,” said Opel CEO Michael Lohscheller.
Passion for democratising technical innovations fuels Opel’s pioneering spirit
During the concept phase, Opel started a wide-ranging and intense process of reflection about itself and its values. Opel can look back on 156 years of industrial existence starting with precision mechanics and almost 120 years of automobile engineering fuelled by the constant commitment to make exciting and relevant innovative technologies accessible to all. Throughout its history, the specific “Opel way” can be summarised with these three values: German, approachable and exciting. As for its future, the brand wants to remain anchored in the most modern and positive expression of its German roots: Opel’s “New Germanness” takes the best of Germany’s traditional values – engineering excellence, a genuine fascination for well-executed machines, an intense focus on functionality, quality and reliability – and enriches them with warmth and open-mindedness. Inspired by Opel’s innovative spirit, the new GT X Experimental captures the essence of the company’s rich heritage and promises an exciting future. It blends German engineering, precision and quality with visionary innovations to give a preview of what Opel cars will be in the mid-2020s: bold, pure in appearance yet extremely approachable and customer-centric.
Compact SUV: Opel GT X Experimental
Opel decided to embody its vision for its future automobiles in a compact SUV of just 4,063 millimetres in length (wheelbase: 2,625 mm; width: 1,830 mm; height including antenna: 1,528 mm): SUVs are currently the most popular vehicles on the market and Opel is driven by the desire to make such even more attractive for a wide public. But to do so, SUVs must also become more efficient than ever before. This is why the Opel GT X Experimental is built on a lightweight architecture, has a reduced footprint and drives on 17-inch wheels that visually look much larger, so as to maximise road comfort but also look stunning. True to the PACE! plan promise of offering an electrified version of each Opel model by 2024, the GT X Experimental is a fully electric car with power delivered by a 50 kWh, compact next-generation lithium-ion battery with inductive charging. The GT X Experimental does not pretend to offer full autonomous driving. However, it does have Level 3 autonomous driving functions – meaning it can handle all aspects of driving but the driver must be able to respond to a request to intervene.
Pure and bold: This is future Opel design
The GT X Experimental presents innovative technology with sophisticated simplicity. Vice President Design Mark Adams and his team have developed a whole philosophy for Opel’s specific, German design, blending purity with emotional boldness. In the GT X Experimental, each usual function, each module of an automobile has been questioned with the aim of achieving purity of design by removing all unnecessary design elements. This is something the design team calls “visual detox”.
The Opel GT X Experimental body shows bold proportions coupled with beautifully structured, pure flowing surfaces. Its strong silhouette is accentuated by the bold graphic identity separating the upper and lower areas. The lower section is painted in a luminous light grey, and the whole upper part including the bonnet, glass and roof are in an almost black, night blue. Between these is a bold Opel yellow signature accent that flows through the car to give it structure and dynamism. This colour scheme re-visits Opel’s traditional grey/black/yellow colour but reconfigures it to create a fresh modern feel. The GT X Experimental welcomes passengers with spacious, unobstructed access thanks to rear-hinged rear doors and all four doors opening wide to 90 degrees to give the concept an approachable character. The sweeping panoramic windscreen/roof reaches far back to the rear seats, enhancing the SUV’s light and open sense of spaciousness.
Opel designers have also reduced the traditional, so-called “cut lines” in the bodywork – made necessary by the different openings such as doors and bonnet – to an absolute minimum. The upper cutline of all doors is hidden in the yellow accent and the one of the rear doors coincides with the opening of the boot. Forgoing conventional elements such as door handles and exterior mirrors, the body is a smooth canvas that wraps around surprising details such as small cameras embedded in the yellow graphic lining the sides of the bonnet pop out, replacing the exterior mirrors.
To counterbalance this visual detox, rare graphical details energise the appearance of the Opel GT X Experimental. Cropped triangles are engraved along the sill under the driver’s side rear door: one of them contains a small, hexagonal LED screen that shows the electric charge level of the battery.
Opel GT X Experimental - Hexagonal LED screen shows electric charge level of the battery
The 17-inch wheels look much bigger thanks to robust rubber covers that flow over the rim to visually enlarge the size of the dark blue tyres. Yellow graphic lines on the rim echo the yellow signature accent of the body and surround the electronic Blitz emblem that stands still as the wheels rotate. And to underline the SUV character of the car, protective cladding wraps around the lower body, giving the GT X Experimental’s solid, robust stance a rugged look.
Opel GT X Experimental - 17-inch wheels with yellow graphic lines
“The Opel GT X Experimental embodies the spirit of our core brand values – German, approachable, exciting. It’s an “approachable” concept that people can identify with. It confidently combines a pure and bold design execution with progressive technology that makes life easier. Clearly, this vehicle signals a very exciting future for the brand,” said Mark Adams.
Opel Compass and Opel Vizor give new visual identity to future Opel models
The GT X Experimental also reveals the new theme for the front and the rear fascia of future models for the first time. The “Opel Compass” organises the design elements along two strong axes that intersect the Blitz. The legendary brand emblem is now the focus point more than ever before. In a crisper and purer execution, the centre-crease line on the bonnet represents the vertical axis, which is prolonged under the Blitz. The horizontal axis is symbolised by the Opel-typical wing-shaped daytime running light signature, which will continue to feature on all future Opel vehicles. The rear echoes the front fascia and shows the Opel Compass in its purity, with the Blitz solidly anchoring the horizontal line of the wing-shaped rear lights and the vertical line from the roof fin antenna to the accentuated crease in the bumper.
Opel GT X Experimental - Wing-shaped rear LED lights
Following the theme of the Opel Compass and in line with the approach of creating the purest possible design, Opel designers have also created a new Opel face that expresses the company’s pioneering spirit: the “Opel Vizor”. The Opel Vizor is a full, single module that frames all of the high-tech and brand elements such as the LED Blitz emblem that shows the car’s operation state by lighting up in different colours, the LED Matrix headlights, the wing-shaped daytime running lights as well as all cameras and sensors of the assistance systems and autonomous driving functions under darkly tinted Plexiglas. The elegant module boldly stretches across the front of the car right under the bonnet. The new, distinctive Opel Vizor is set to be a hallmark design element for all Opel models later in the 2020s.
Interior around Pure Panel: Visual and digital detox for a relaxing oasis
The airy interior of the Opel GT X Experimental follows the same principles and opts for visual and digital detox. Surrounded by the panoramic windscreen/roof and uninterrupted side-window, the cabin’s sleekness masks the innovations it holds in store. The interior’s standout feature is the instrument panel encased in a module that mimics the Opel Vizor – the Opel “Pure Panel”. One wide, single screen welcomes drivers and shows that the multitude of screens, buttons and controls often seen in current-day production vehicles could become obsolete. The Pure Panel enables drivers to have access to the latest technology and get the information they need while eliminating all visually distracting elements. The purity of the interior design can also be seen in the clever positioning of the air vents. They have been hidden behind the screens, allowing all-round pure, clean surfaces. The Pure Panel also shows how Opel allows technology to simplify customers’ lives. Two screens on the far left and right of the front panel display the side views captured by the small pop-out cameras. Elsewhere, the design of the steering wheel has been simplified while its centre module repeats the shape of the Opel Vizor. And, like its counterparts on the wheels, the LED Opel Blitz on its centre remains upright whatever the steering position.
Opel GT X Experimental - Interior with Pure Panel
This clean high-tech approach flows throughout the interior. For example, the four seats look like they are floating while removable speakers nestled under the headrests also allow an out-of-car sound experience. Graphic details also highlight the strict purity of the design in the interior: the cropped triangle theme is repeated on the seat backs and the accelerator and brake pedals.
Opel concept cars have showcased Opel’s future for more than 50 years
The name of the GT X Experimental is reminiscent of Opel’s pioneering concept car, the 1965 Experimental GT – an accessible coupé that was also the first concept car ever produced by a car manufacturer in Europe.
The additional X underlines Opel’s plan to further develop its footprint in the SUV market: 40 per cent of all Opel cars sold in 2021 are to be SUVs.
Over decades, Opel has used concept cars to shape its future. Most concepts were never meant to ever be produced but they allowed the brand to set guiding principles for its upcoming models. In this regard, the three latest concept cars from Opel display a clear coherence with the development of the brand. The 2013 Monza concept reflected Opel’s quest for more efficiency (lightweight, packaging, powertrain) and the expression of this efficiency in a sleek design.
The 2016 GT Concept took efficiency to the next level, with a design around the core ideas of approachability, simplicity and purity. This has now been taken to the next level by the GT X Experimental and its philosophy based on the brand values – German, approachable, exciting – is expressed in a pure and bold design.
Groupe PSA and Nidec Corporation (the “Nidec”), through Nidec
Leroy-Somer Holding (the“Nidec Leroy-Somer”), intend to work together in
the field of electric traction motor. For this purpose, Nidec
Leroy-Somer and Groupe PSA entered into a joint venture agreement on
December 4, 2017. Closing of such transaction remains subject to
antitrust clearance and employee representative consultation. Groupe PSA
makes the strategic choice to anchor in France the design and
production of the main components of the electric traction powertrain.
Nidec
Leroy-Somer and Groupe PSA have acknowledged the strategic importance
of traction motor in coming electrification age and agreed mutual
cooperation for developing state of the art high-performance and
competitive electric traction motor range for electrified vehicles
(Mild-hybrid (MHEV), Electric Vehicles (“EV”) and Plug-in Hybrid
(“PHEV”) to meet the needs of Groupe PSA and other OEMs.
The aim of
the partnership is to design, develop, manufacture and sell a range of
efficient electric traction machines. The joint venture will then engage
R&D, manufacturing and sales for high-performance electric traction
motor mainly to Groupe PSA, and to other OEMs, by combining PSA’s
automotive OEM strengths and Nidec Leroy-Somer’s leading expertise of
motor and related electrical equipment.
1. Purpose and Background of the Transaction
As
an anticipation of energy transition towards a cleaner mobility,
electrification is the key to both solving global warming and
controlling air quality with a well to wheel approach. Given the above
trend, OEMs are accelerating their shift towards electrified vehicle
technologies. Along with this trend, electrification of automobiles has
been expanding and the market of electric motor for automotive is
foreseen to double its size to JPY 6 trillion (€ 45 billion) in 2030.
Nidec has been also active in this trend and developing products with
its superior motor expertise.
Nidec has been actively developing a
new growth platform with particular focus on automotive business. In its
midterm strategic goal Vision 2020 it has targeted to achieve JPY 700
billion to 1 trillion (€ 5,4 to 7,6 billion) of sales in automotive
sector in 2020.
Nidec Leroy-Somer, acquired by Nidec on February
2017, is the leading electric motor company in France serving all
industry sector and renowned for its high quality products providing the
best value to customers.
Groupe PSA, which is a European champion
with the second position on the European market, has been actively
accelerating its shift to electrified vehicles (MHEV, PHEV, EV). As part
of the energy transition process and in line with the technological
offensive spelled out in its “Push to Pass” strategic plan, Groupe PSA
is focused on diversifying its technological offering with plug-in
hybrid petrol engines and next-generation electric powertrains.
2. Information on the joint venture:
Foundation: 1er quarter 2018, subject to closing
Headquarters: Carrières sous Poissy, Paris region, France
R&D facilities: Carrières sous Poissy, Paris region, France
Production facilities: Trémery, Metz region, France
Shareholders: 50% Nidec Leroy-Somer Holding /50% Groupe PSA
Investment: € 220 Million
3. Effect on Financial Performance for the Current Fiscal Year
The
Transaction is expected to have no significant impact on Nidec’s
consolidated financial performance for the fiscal year ending March 31,
2018. Nidec will make additional disclosure on a timely basis in
accordance with the rules of the Tokyo Stock Exchange upon determination
of further details.
