The leading automotive manufacturer Groupe PSA signed an agreement with Total for the creation of the joint venture Automotive Cells Company (ACC). The new JV will develop high-performance lithium-ion technologies.
- Yann Vincent has been appointed Chief Executive of ACC in order to implement and develop it.
- With this partnership, the parties are setting up a world-class player in the development and manufacture of high-performance batteries for the automotive industry from 2023.
In July 2020, PSA Aftermarket had acquired Amanhã Global and its e-commerce platform B-Parts.com by acquiring a majority stake in the capital of the company. The acquisition of this sector leader in re-use parts (Reuse) aims to complete PSA Aftermarket’s conquest strategy in the circular economy, underpinned by a target of tripling turnover by 2023.
In August 2020, Groupe PSA has decided to invest 1 million euros in a production capacity of type 1 surgical masks in order to meet the equipment needs of all of its employees, while making it possible to regularly make targeted donations to charities (during the confinement period, Groupe PSA donated more than 700,000 masks). The production line installed is of French technology and has a capacity of 12,000 masks / hour.
In October 2019, Mahindra Two Wheelers Europe, a subsidiary of Mahindra & Mahindra Ltd. (M&M Ltd), part of the USD 20.7 billion Mahindra Group headquartered in Mumbai, India and Groupe PSA, announced that Mahindra Two Wheelers Europe will acquire all outstanding shares in Peugeot Motocycles (PMTC). This reaffirms the commitment of the Mahindra Group to the future growth of Peugeot Motocycles, headquartered in Mandeure, France.
About PSA GROUP
Groupe PSA, headquartered in Rueil-Malmaison, France, is a global manufacturer of automobiles and motorcycles. The companys largest brand Peugeot is sold across the world. The other leading brands of the company include Citroën; DS Automobiles; Opel; and Vauxhall. The PSA Group is harnessing hybrid technology to conceive the car of the future. The company has approximately 209,000 employees across the world.
Total is a global energy player, based in France. Total produces and markets fuels, natural gas and low-carbon electricity. Totals 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Total is active in more than 130 countries.