PSA Group: second joint venture with Punch Powertrain
(CercleFinance.com) - The PSA Group and Punch Powertrain announce that they have signed an agreement to create a second joint venture and extend their strategic partnership in the field of electrification, in order to contribute to the fight against climate change.
"Punch Powertrain holds majority control in the new Joint 61/39 Venture, which will design, manufacture, and supply Punch Powertrain's breakthrough DT2 dual clutch transmission for the industry's next generation of mild hybrid electric (MHEV) and plug-in hybrid electric (PHEV) vehicles," PSA said.
The joint venture will initially supply PSA Group's global operations. It also aims to supply other car makers around the world.
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