During the 2016 World Economic Forum in Davos, Quebec Premier Phillippe Couillard announced that CA$16 million in government financing would be made available to support “an innovative” research and development project.
This partnership project, which includes PSA Peugeot Citroen, Exagon Motors, Investissement Quebec and IndusTech (a subsidiary of Hydro-Qebec), will lead to the development of components for high-performance electric vehicles.
Mr Couillard said: “My government intends to make Quebec a standard bearer in the campaign to electrify transport. Our commitment to the project — plus our 2015-2020 Transport Electrification Action Plan — is another milestone in the drive to develop the electric-car sector.”
PSA Peugeot will provide expertise relating to the integration of electric-vehicle components, for which it would become the main customer. Carlos Tavares, chairman of the PSA managing board, said: “The agreement with Investissement Quebec, Exagon Motors and Hydro-Quebec demonstrates that we have the agility to seize every available opportunity to boost our technological lead. The partnership also underscores our interest in developing parts for high-performance hybrid and electric vehicles.”