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Nidec, PSA complete formation of electric motor JV

Japanese electric motors manufacturer Nidec Corp. and French automaker Groupe PSA completed the establishment of their joint venture, Nidec PSA emotors.

The new company will develop, manufacture and sell automotive electric traction motors and inverters. The 50/50 joint venture has an initial share capital of €15 million.

The transaction is not expected to have a significant impact on Nidec's financial results for fiscal year ending March 31, 2019.