December 4, 2017 / 9:21 AM / a year ago

PSA Group and Japan's Nidec to set up electric car engine venture

PARIS, Dec 4 (Reuters) - Peugeot maker PSA Group and Japan’s Nidec Corp said on Monday they will invest 200 million euros in a joint venture to develop and produce electric car engines in France.

The aim of the joint venture is to make high-performance electric engines for PSA Group and potentially other car makers. Nidec Corp will act via Nidec Leroy-Somer, the French electric motor company that it acquired in February 2017.

The transaction remains subject to antitrust clearance and consultations with employee representatives. The joint venture’s headquarters will be in Carrieres-sous-Poissy near Paris. (Maya Nikolaeva; editing by Luke Baker)

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