Groupe PSA has posted a new profitability record in 2019 and the company has highlighted its electrification strategy as key to future prospects.
David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view:
“PSA’s results for 2019 are certainly impressive – it has improved its financial results for six successive years.
“The company’s electrification strategy will be a key component for future success.
“The company aims to have all of its models electrified by 2025 – with an electrified variant available for every model range. At present, it offers ten electrified models (four fully-electric vehicles and six plug-in hybrids.
“It is on track to reach its 2025 goal. But what really marks PSA out from other OEMs is its efforts to be highly vertically integrated with major electric drivetrain systems and components under its control.
“As well as its in-house efforts it has set up a number of important joint ventures with NIDEC (electric motors), Punch Powertrain (e-transmissions) and Total (battery cells and modules) to achieve that.
“Positioning for the value chain could put PSA in a very strong position when electrified vehicle volumes are stepped up in the mid-2020s.”