Groupe PSA Welcomes the Support Plan to the Automotive Sector of French Government

RUEIL-MALMAISON, France--()--Regulatory News:

Groupe PSA (Paris:UG):

The Group highlights in particular the following initiatives:

• The introduction of the purchase bonus for plug-in petrol hybrid vehicles at € 2,000: Groupe PSA produce these vehicles in France, in Sochaux, Mulhouse and Rennes

• The increase of the bonus for electric vehicles to € 7,000 for individuals and to € 5,000 for fleets

• The plan to strengthen the deployment of charging stations.

On the occasion of the presentation of this plan, Carlos Tavares, Chairman of the Management Board of Groupe PSA, declares: "The plan presented by the President of the French republic fits perfectly with the movement initiated by Groupe PSA in its daily fight against global warming, accompanied by substantial investments to locate the electrification value chain in France. We welcome the purchase incentive scheme which should promote the energy transition with aid intended to increase the market share of electrified vehicles and to accelerate the renewal of old vehicles with more virtuous vehicles

Groupe PSA, which is anchored on the national territory, contributed positively of more than 4.4 billion euros to the French trade balance in 2019, and seizes the opportunity of the energy transition to invest more than 400 million euros in production capacities for future electrified powertrains at its French sites, which will be supplemented by the European industrial project for the production of batteries.

The Group will produce in France from 2022 components which are sourced in Asia for the time being. Thus, the electric motors will be produced by the joint venture with Nidec Leroy Sommer in Trémery and the E-DCT gearboxes in Metz by the joint venture Punch Powertrain PSA e-transmission.

Other components are or will soon be manufactured in France such as the casings of electrical machines in Charleville, the reducers in Valenciennes, as well as the trays and battery packs in the Group's factories in Poissy, Sochaux, Rennes and Mulhouse.

In addition, a new generation of electrified platform will be industrialized at the Sochaux site by 2022 to manufacture the future generation of the Peugeot 3008.

Finally, thanks to the support of the French public authorities, Groupe PSA will take a decisive new step in partnership with the Total Group for an investment in France of around 2 billion euros, to relocate battery production from China to a gigafactory in France. This major component alone represents 35% of the value of electric vehicles.

The dynamic initiated by Groupe PSA towards a low-carbon society is guided by an ethical approach. As such, since the beginning of 2020, Groupe PSA has been better than the target set for CO2 emissions from its vehicles, thanks to the adequacy of its commercial offer to the needs of its customers.

About Groupe PSA

Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia..

Media library: medialibrary.groupe-psa.com / @GroupePSA_EN

Contacts

Media:
Karine Douet: +33 6 61 64 03 83 – karine.douet@mpsa.com
Valérie Gillot: +33 6 83 92 92 96 – valerie.gillot@mpsa.com

Contacts

Media:
Karine Douet: +33 6 61 64 03 83 – karine.douet@mpsa.com
Valérie Gillot: +33 6 83 92 92 96 – valerie.gillot@mpsa.com