Nidec and Groupe PSA to Sign Joint Venture Agreement for Automotive Electric Traction Motor
2017年12月4日 - 06:00PM
Nidec Corporation (TSE:6594) (OTC US:NJDCY) (the “Nidec”) and
Groupe PSA, through Nidec Leroy-Somer Holding (the “Nidec
Leroy-Somer”), intend to set up a joint venture dedicated to the
design, development, manufacture and sale of electric traction
motors. 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.
Nidec Leroy-Somer and Groupe PSA have
acknowledged the strategic importance of traction motor in coming
electrification age and agreed mutual cooperation for developing
high-performance and competitive electric traction motor range for
electrified vehicles such as Mild-hybrid (“MHEV”), Electric
Vehicles (“EV”) and Plug-in Hybrid (“PHEV”) to be developed by
Groupe PSA and other OEMs.
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 high-performance 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.
1. Purpose
and Background of the TransactionAs some of the leading
countries are set to ban sale of new gasoline/diesel cars,
electrification is the key to both solving global warming and
controlling air quality. Given the above trend, OEMs are
accelerating their adoption of electrified vehicle technologies.
Along with this trend, electrification of automobiles has been
expanding and the market for 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 the
automotive sector in 2020.
Nidec Leroy-Somer, acquired by Nidec in February
2017, is the leading motor company in France and renowned for its
high quality products in industrial area as well as various other
areas.
Groupe PSA, the second largest market share of
automotive industry in Europe, 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. Groupe PSA makes the strategic choice to anchor in
France the design and production of the main components of the
electric traction powertrain.
2. Information on the joint
venture:Company name: To be determinedHeadquarters:
Carrières sous Poissy, Paris region, FranceRepresentative: To be
appointed by Nidec Leroy-SomerFoundation: March to April 2018 (To
be determined)Main business: Development, production, and sales of
automotive electric traction motor Initial Share Capitals:
€15millions (Shareholders: Nidec Leroy-Somer 50%, PSA automobiles*
50%) *PSA automobiles is a French company of Groupe PSA
3. Information on Nidec
Leroy-Somer:Company name: Nidec Leroy-Somer
HoldingHeadquarters: Angouleme, FranceRepresentative: Xavier
Trenchant, Chairman of the Board and CEOCapital: €20millionsMain
business: R&D, manufacturing and sale of alternators, electric
motors, geared motors, variable speed drives, automation
solutions and service offers for industry
4. Information on PSA
automobiles:Company name: PSA automobiles SAHeadquarters:
Poissy, FranceRepresentative: Carlos Tavares, Chairman of the
Managing Board, Xavier Chéreau, General ManagerCapital: €
300millionsMain business: Design, manufacturing & sales of cars
and traction engine
5. Effect on Financial Performance for
the Current Fiscal YearThe 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.
About Groupe PSAThe Groupe PSA
designs unique automotive experiences and delivers mobility
solutions to meet all client expectations. The Group has five car
brands, Peugeot, Citroën, DS, Opel and Vauxhall, as well as a wide
array of mobility and smart services under its Free2Move brand,
aiming to become a great carmaker and the preferred mobility
provider. It is an early innovator in the field of autonomous and
connected cars. It is also involved in financing activities through
Banque PSA Finance and in automotive equipment via Faurecia. Find
out more at groupe-psa.com/en. Media library:
medialibrary.groupe-psa.com / @GroupePSA
Cautionary Statement Concerning
Forward-Looking InformationThis press release contains
forward-looking statements regarding the intent, belief, strategy,
plans or expectations of the Nidec Group or other parties. Such
forward-looking statements are not guarantees of future performance
or events and involve risks and uncertainties. Actual results may
differ materially from those described in such forward-looking
statements as a result of various factors, including, but not
limited to, the risks to successfully integrating the acquired
business with the Nidec Group, the anticipated benefits of the
planned transaction not being realized, changes in general economic
conditions, shifts in technology or user preferences for particular
technologies, whether and when required regulatory approvals are
obtained, other risks relating to the successful consummation of
the planned transaction, and changes in business and regulatory
environments. The Nidec Group does not undertake any obligation to
update the forward-looking statements contained herein or the
reasons why actual results could differ from those projected in the
forward-looking statements except as may be required by law.
Contact:Masahiro Nagayasu General
Manager Investor
Relations +81-75-935-6140ir@nidec.com