PSA, GM tie-up: More details
PSA Peugeot Citroen and General Motors on Wednesday, Oct 24, 2012 confirmed more steps in their developing alliance, including the announcement of four joint vehicle projects.
In line with the alliance agreement signed on February 29, 2012, the alliance partners have announced further steps the cement the deal, including the common vehicles and a joint purchasing arrangement.
FIRST SHARED CARS BY 2016
The four common vehicle projects include a compact MPV for Opel and a compact utility van for Peugeot, a joint MPV in the small-car segment for Opel and Citroen, an “upgraded” low CO2 small car platform and a mid-sized car for Opel, Peugeot and Citroen.
The brands hope to launch the first of these vehicles by the end of 2016.
Furthermore, the partners also confirmed a joint purchasing organisation that will allow them to reduce costs by sharing products and components.
Both companies also confirmed their previously stated synergy target of $2-billion (R17.5-billion) annually within five years.