PSA Peugeot Citroën and General Motors Report Further Progress on their Global Strategic Alliance
- Major Product Development and Purchasing agreements signed
- Expansion of scope to also include powertrain
- Strengthening ties and cementing the Alliance
Detroit/Paris. PSA Peugeot Citroen (PSA) and General Motors (GM) today confirm the signature of major agreements in the execution of their Global Strategic Alliance. Consistent with the terms of the Master Agreement dated February 29, 2012, the Alliance partners have signed definitive agreements related to three of the initial vehicle projects as well as to the purchasing joint venture.
Three Common Vehicle Platform Development Projects
The first common vehicle projects selected encompass platform / architecture developments in the following segments:
1. A joint program for a C-MPV1 for Opel/Vauxhall and a C-CUV2 for the Peugeot brand
2. A joint MPV3 program for the B-segment for both Groups
3. The co-development of an upgraded low CO2 B-segment platform to feed Opel/Vauxhall and PSA’s next generation of cars in Europe and other regions
Additional joint vehicle projects to further strengthen the Alliance are under review and in due course will be subject to future announcements.
The first vehicles resulting from this cooperation are expected to be launched in 2016. The Opel/Vauxhall, Peugeot and Citroen models will be highly differentiated and fully consistent with their respective brand characteristics.
Creation of Purchasing joint venture
The Alliance partners have signed a definitive agreement to create a joint purchasing organization in Europe supported by a purchasing joint venture. This new organization will draw on the combined purchasing reach of both companies to realize purchasing synergies. This is still subject to anti-trust approvals.
Further global initiatives
Based on the success of their collaboration, the partners also announce their intention for new additional global initiatives to broaden the scope of their Alliance and seize future opportunities:
Co-development of a next generation of high-performance, efficient small gas engines derived from PSA’s global small petrol engine program (EB engine),
Exploration of product and industrial initiatives in Latin America or other growth markets.