PARIS — PSA Group and Punch Powertrain have signed a joint venture agreement to develop and build dual-clutch transmissions for mild-hybrid and plug-in hybrid vehicles.
The agreement is the second such collaboration between the companies on transmissions for electrified vehicles. An enterprise created in 2018 will be based at PSA’s powertrain factory in Metz, eastern France, and will be able to produce up to 600,000 transmissions a year starting in 2022.
Punch, a Belgian supplier that has largely focused on the Asian market for its transmissions, will hold a 61 percent stake in the new venture, with PSA holding 39 percent. It will be operational in the third quarter of this year.
No value was attached to the deal. Punch will transfer its dual clutch development and production facilities in Sint-Truden, Belgium, and Eindhoven, the Netherlands, while PSA will make a cash investment, the companies said in a news release on Tuesday.
The new unit will make transmissions for PSA’s next generation of electrified vehicles, as well as potentially producing for other customers, Punch and PSA said.