Joint Venture established to contribute to both partners’ strategic focus on affordable electrification and technology leadership
Launching company to design, manufacture and supply state of the art components and sub-systems for the future generation of the electrified transmission (e-DCT)
Industry leading innovation in category of mild hybrid electric (MHEV) and plug-in hybrid electric (PHEV) vehicles – DT2 by Punch Powertrain – to be supplied to Groupe PSA’s global operations and other vehicle manufacturers worldwide
Punch Powertrain and Groupe PSA today announced the launch of their Joint Venture – ‘Punch Powertrain PSA e-transmissions’. Following regulatory approvals, the company is founded and starts its operations as of September seventeenth, 2020.
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 next generation of mild hybrid electric (MHEV) and plug-in hybrid electric (PHEV) vehicles. The business will initially supply Groupe PSA’s global operations and aims to supply other vehicle manufacturers worldwide. Elias van Wijk, previously CTO to Punch Powertrain, was named CEO of the new company.
This Joint Venture intensifies the cooperation between both partners in their pursuit to combat climate change. It embodies both company’s conviction that while the automotive industry is undergoing the transition towards electrified and fully electric mobility, it is paramount to fuel progress by bringing affordable solutions on a large scale, enabled by out-of-the-box-thinking and cutting edge technologies. By combining agility with the expertise and backing of two global organizations, the newly created entity will be optimally positioned to realize this mission.
“We are excited to launch this second Joint Venture with Groupe PSA, as it fully aligns with our vision that ‘Our powertrains drive a sustainable world’ through technology innovation” stated Jorge Solis, Chief Executive Officer of Punch Powertrain. “This new venture will spearhead the industrialization of our next generation of transmissions for hybrid electric vehicles, providing broader availability of affordable electrified powertrains on global markets.”
The new Joint Venture, “Punch Powertrain PSA e-transmissions”, will develop and supply Punch Powertrain’s innovative, ultra-efficient and compact automatic hybrid transmissions. Known as the DT2, this cost-efficient dual clutch transmission is the first in the industry to fully integrate an electric motor in a mild hybrid electric vehicle, resulting in significant fuel savings and reduction in CO2 emissions, compared to non-hybridized vehicles.
The DT2 revolutionizes industry’s thinking on hybrid DCT design, departing from 48V and High Voltage hybrid infrastructures as a design base. This allows full integration and extensive optimization of an electric motor for mild hybrid applications, as well as plug-in hybrid electric vehicles (PHEV), which enable intervals of full electrically powered driving.
This Joint Venture will commence operations with a work force of over 300 people, transferring from Punch Powertrain, headed by a leadership team of five senior automotive executives. Next to Elias van Wijk, the executive team is further composed of two leaders appointed by Punch Powertrain and two by Groupe PSA.
The company is established and headquartered in Sint-Truiden, Belgium, at the site of Punch Powertrain nv and encompasses a second location in Eindhoven. As part of the initial agreement, Punch Powertrain contributes its DT2-related business unit, including world-class engineering, manufacturing, and support functions to the new entity.
“We are excited to start our operations after months of hard work and preparations!” said Elias van Wijk, CEO of Punch Powertrain PSA e-transmissions. “We will focus on preparations of the successful launch of DT2 for Groupe PSA and other car manufacturers. The recognition and interest our technology has received from the market is highly encouraging, proving us with exciting prospects. We are looking forward for our company and all its employees to shape the landscape of hybridization in the automotive industry with market leading state-of-the-art technology.”
Earlier this year, on July 27th, the first Joint 50/50 Venture of both companies, ‘Punch Powertrain PSA e-transmissions assembly’, was launched. This Joint Venture will be dedicated to assembly of the DT2 electrified transmission at Groupe PSA’s facility in Metz, France.