IIA learned from PSA Group that the group and Punch Powertrain have signed an agreement to establish a second joint venture company, intending to expand their strategic cooperation in the field of electrification. The new joint venture is called "Punch Powertrain PSA Electrified Transmission Co., Ltd." and Punch Powertrain holds a 61% stake in the newly established joint venture. It is reported that the new joint venture is expected to start operations in the third quarter of 2020.

After the establishment of this new joint venture company, it will be responsible for designing, manufacturing, and supplying an economical dual-clutch gearbox called DT2 of Punch Powertrain, which has a 48V motor and is highly efficient and compact. New generation MHEV. For PHEV, the company will also provide a specially designed high-voltage version DT2 gearbox, which can meet the requirements of pure electric drive.

At the same time, Punch Powertrain will transfer its DT2 gearbox related business units, including world-class engineering R&D, manufacturing and other support departments, to the newly established joint venture company. It will also transfer its production facilities related to the DT2 project in Sint-Truiden, Belgium and Eindhoven, the Netherlands to a joint venture company. The joint venture will initially support PSA Group's vehicle production around the world, and plans to subsequently supply products to other automakers around the world.

Olivier Bourges, executive vice president responsible for the group’s project planning and strategy and the member of the PSA Group’s management committee, said: “We have a very clear manufacturing strategy, namely the vertical integration of components, especially in key technology areas such as electrified powertrain. Knowing that the future trend is not only to reduce carbon dioxide emissions, the challenge we face is to achieve electrification while controlling costs, which is also in line with the Group’s central goal."