PSA Group

PSA Group and Nidec announced a joint venture to design, develop and produce electric motors, with a total investment of €220 million. The JV will be headquartered in Carrieres-sous-Poissy, France, and aims for capacity of 900,000 motors by 2022.

PSA Group signed an industrial cooperation agreement with Punch Powertrain to develop and manufacture a 48V e-DCT dual-clutch transmission. Production is planned at the PSA plant in Metz-Tremery, France, with capacity of 600,000 units per year, starting in 2022.

PSA Group and Punch Powertrain announced a joint venture called 'Punch Powertrain PSA e-transmissions' to produce next-generation electrified e-DCT transmissions at PSA's Metz site starting in 2022. Annual capacity will be 600,000 units.

PSA Group has selected Punch Powertrain to supply its electrified dual-clutch transmissions for hybrid and electric models. Punch Powertrain is in discussions to produce the 48-volt transmissions at a PSA site.

AD Plastik won new supply contracts with large carmakers worth €100 million, including an €80 million contract to make parts for Ford's new mini SUV model at its plant in Craiova, Romania starting in 2019, and a €12.8 million contract for parts for PSA Group vehicles starting in 2020.

Lear Corporation's plant in Épila, Spain, has been awarded the contract to manufacture seats for the new Opel Corsa starting in 2020, securing the plant's future and avoiding a planned closure in 2019.

PSA Group has awarded component contracts to suppliers in the Vigo area for its V20 SUV project (Peugeot 2008), worth approximately €250 million in additional turnover for Galician suppliers. The project involves an investment of over €640 million by PSA and production is set to begin in 2020.

PSA Group and Nidec plan to form a joint venture to manufacture electric motors.

PSA Group reached an agreement with the French government to extend its purchasing commitment from struggling auto parts supplier GM&S Industry to five years averaging EUR10 million annually, up from three years at EUR12 million per year.

Hutchinson launched a new automotive components plant in Zawada, Poland, to produce car body seal systems for PSA Group and Volvo Cars. The $44 million facility is expected to employ 240 by year-end and eventually 700.

Faurecia SA opened a second vehicle seating factory in Salé, Morocco, an $18 million facility that will create 1,300 jobs and produce 10,000 seat covers per day for PSA Group's Peugeot 3008 and 5008.

PSA Group is in negotiations with Aisin to produce automatic gearboxes at one of its plants, leveraging the scale of its Opel acquisition. The talks were reported on May 17, 2017.

PSA Group has confirmed it will acquire Opel/Vauxhall from General Motors for €1.3 billion (£1.13bn). The deal also includes GM Financial's European operations for €0.9 billion.

General Motors and PSA Group announced an agreement for PSA to acquire GM's Opel/Vauxhall subsidiary and GM Financial's European operations for a total of €2.2 billion.

Nanjing Aotecar New Energy Technology, a wholly-owned subsidiary of Aotecar New Energy Technology, was notified by PSA Group on January 5, 2017 that it has been selected as a supplier for the PSA Europe CMP project. It will develop, produce and supply fixed-displacement automotive air conditioning compressors to PSA's production bases in Europe, Morocco and Latin America starting in 2018.

GEFCO signed a €8 billion exclusivity agreement with PSA Group to manage and optimize the automaker's global manufacturing supply chain for five years starting January 1, 2017.