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Groupe PSA Welcomes French Automotive Sector Support Plan

Auto News - Published on Wed, 27 May 2020

Image Source: Groupe PSA
On the occasion of the presentation of this plan, Carlos Tavares, Chairman of the Management Board of Groupe PSA, said “The plan presented by the President of the French republic fits perfectly with the movement initiated by Groupe PSA in its daily fight against global warming, accompanied by substantial investments to locate the electrification value chain in France. We welcome the purchase incentive scheme which should promote the energy transition with aid intended to increase the market share of electrified vehicles and to accelerate the renewal of old vehicles with more virtuous vehicles ”

Groupe PSA, which is anchored on the national territory, contributed positively of more than 4.4 billion euros to the French trade balance in 2019, and seizes the opportunity of the energy transition to invest more than 400 million euros in production capacities for future electrified powertrains at its French sites, which will be supplemented by the European industrial project for the production of batteries.

The Group will produce in France from 2022 components which are sourced in Asia for the time being. Thus, the electric motors will be produced by the joint venture with Nidec Leroy Sommer in Trémery and the E-DCT gearboxes in Metz by the joint venture Punch Powertrain PSA e-transmission. Other components are or will soon be manufactured in France such as the casings of electrical machines in Charleville, the reducers in Valenciennes, as well as the trays and battery packs in the Group’s factories in Poissy, Sochaux, Rennes and Mulhouse. In addition, a new generation of electrified platform will be industrialized at the Sochaux site by 2022 to manufacture the future generation of the Peugeot 3008.

Finally, thanks to the support of the French public authorities, Groupe PSA will take a decisive new step in partnership with the Total Group for an investment in France of around 2 billion euros, to relocate battery production from China to a gigafactory in France. This major component alone represents 35% of the value of electric vehicles.

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Posted By : Yogender Pancholi on Wed, 27 May 2020
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