Peugeot To Develop Electric Vehicles For The US, Announces New Joint Venture

French carmaker Peugeot announced its plan to develop and manufacture electric vehicles for the US market by 2025. For this, it has tied-up with Nidec, a Japanese manufacturer of electric motors as the collaboration will look in to the design, development, manufacture and sale of electric traction motors. The new Nidec-PSA emotors will manufacture high-performance traction motor for electrified vehicles. Both the companies will invest close to 220 million euros to set-up this JV which will support the electrification push.

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Around forty engineers have already been recruited and joined the JV headquarters in Carrieres sous Poissy, near Paris, while thirty more engineers are expecting to join this site by the end of this summer. This team will design new traction electric motors to be produced in Tremery plant, Moselle area, in France, and integrated in mild-hybrid, electric vehicles and plug-in hybrid vehicles.

Also Read: Peugeot Teams Up With Nidec To Produce Electric Vehicle Motors In France

In January this year, Peugeot said that it will offer electrification as an option on all its vehicles by 2025. For this, the French car manufacturers had announced $90 billion in investments to electrify future vehicles to comply with regulations to curb carbon dioxide emissions. Moreover, by 2030, around 80 per cent of the automaker's vehicles will offer the ability to pilot themselves under limited conditions, and 10 per cent will be capable of autonomous driving.