Groupe PSA and Punch Powertrain have signed an agreement to expand their strategic partnership in the field of electrification.
Punch Powertrain holds majority control in the new Joint 61/39 Venture, which will design, manufacture and supply Punch Powertrain’s DT2 dual-clutch transmission for PSA’s next generation of hybrid EVs. The business will initially supply Groupe PSA’s global operations, and aims to eventually supply other vehicle manufacturers worldwide.
“Our clear manufacturing strategy is to have a vertical integration of components, particularly key technologies such as electrified powertrains. We have understood that the future is much more than reducing emissions. The challenge ahead of us is electrification at affordable cost,” said Groupe PSA Executive VP Olivier Bourges.
“We are delighted to launch this second Joint Venture Agreement with Groupe PSA, Europe’s second-largest car manufacturer,” said Punch Powertrain CEO Jorge Solis. “This new venture will spearhead the industrialization of our next generation of transmissions for hybrid EVs for Groupe PSA and other carmakers worldwide.”
Punch Powertrain will contribute its DT2-related business unit, including 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, the Netherlands. In turn, Groupe PSA will make a cash investment in the joint venture.
A high-voltage variant of the DT2 is designed for plug-in hybrid electric vehicles (PHEVs), and allows fully electric-powered driving.
Sources: Groupe PSA and Punch Powertrain