Second joint venture to propel electrification
Posted on 01 Jul 2020 and read 462 times
Groupe PSA and Punch Powertrain have signed an agreement to establish a second joint venture and expand their strategic partnership in the field of electrification. Punch Powertrain holds majority control in the new joint venture (61/39), which will design, manufacture and supply Punch Powertrain’s DT2 dual-clutch transmission for the industry’s next generation of mild hybrid electric and plug-in hybrid electric vehicles.
The business will initially supply Groupe PSA’s global operations and then other vehicle manufacturers world-wide.
Jorge Solis, Punch Powertrain’s CEO, said: “We are delighted to launch this second joint-venture agreement with Groupe PSA, Europe’s second-largest car manufacturer.
“Over the past 45 years, Punch Powertrain has continuously pioneered innovative and cost-effective transmission technologies. This new venture will spearhead the industrialisation of our next generation of transmissions for hybrid electric vehicles for Groupe PSA and other car makers.”
Punch Powertrain will contribute its DT2-related business unit — including world-class engineering, manufacturing and support functions — to the new entity, which is expected to be operational by the third quarter of 2020.
Punch Powertrain will also transfer its current DT2- related facilities in Sint-Truiden (Belgium) and Eindhoven (Netherlands). In turn, Groupe PSA will make a cash investment in the joint venture — Punch Powertrain PSA e-transmissions.
In April 2019, Groupe PSA and Punch Powertrain signed an agreement to establish their first joint venture — Punch Powertrain PSA e-transmissions assembly. This will assemble the future generation of electrified transmissions (e-DCT) at Groupe PSA ’s facility in Metz (France), starting in 2022.