The automobile industry is going green at a very rapid rate. It won't be long enough when electric cars running on the streets would be a common sight. Big car companies are working day and night to develop electric vehicles. This will soon result in the increase in demand for electric motors. So, to sort this problem out, Groupe PSA And Nidec have joined hands to develop electric traction motors.
For those who aren't familiar with the two names - Groupe PSA is the second largest car manufacturer in Europe, and Nidec is the leading comprehensive motor manufacturer. Together they've created a joint venture called “Nidec-PSA emotors”. Carlos Tavares, Chief Executive Officer of Groupe PSA and MM Shigenobu Nagamori, Chief Executive Officer of Nidec, endorsed the establishment of the new project dedicated to the design, development, manufacture and, sale of electric traction motors.
To give an idea of how serious these guys are in fulfilling their commitment, they've already hired forty engineers who are reporting at the JV headquarters in Carrières sous Poissy, near Paris. As soon as each one of them understands one's role, there is going to be another recruitment of thirty more engineers by the end of summer. They will design new traction electric motors to be produced in Tremery plant in France, and integrated into Mild-hybrid (MHEV), Electric Vehicles (EV) and Plug-in Hybrid (PHEV) vehicles.
This kind of work requires a whole lot of investment. Groupe PSA and Nidec will invest 220 million Euros in this project. This will support the electrification push, as 100% of Groupe PSA vehicle range will include an electrified offering by 2025, especially that electric vehicles are projected to make up 16 percent of all car sales by then.
The governing bodies of the UAE are aware of the importance of electric vehicles in the near future. That's why new incentives have been launched to support and simplify the transition from fossil-fuel powered cars to electric cars. These incentives include green bank loans, green insurance plans, attractive EV car prices and green registration of vehicles. Other government programs call for up to 10% of car fleets of federal ministries and agencies to be electric vehicles.