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Joint projects to save Peugeot, GM $2bn a year
The overall target was to achieve annual savings of $2.0bn within five years, which they would share under their partnership deal agreed earlier this year, the French firm said.
PSA, which has announced a radical restructuring plan and job cuts, has just received large guarantees from the French government to help its financial arm.
The two groups will build a compact monospace vehicle under the Opel/Vauxhall brands, owned by GM, and a compact crossover utility vehicle under the French Peugeot brand based on the Peugeot 3008, the firm said in a statement.
The two companies will also work on a joint programme for a monospace vehicle in the segment for small cars under the Opel/Vauxhall and Citroen brands.
They will build together a modernised vehicle platform for small, low-emission cars.
These are to feature in a new generation of vehicles under the Opel/Vauxhall, Peugeot and Citroen brands in Europe and the rest of the world.
The fourth programme concerns joint work on another segment of cars for Opel/Vauxhall, Peugeot and Citroen.
PSA and GM said they expected to offer the first vehicles from these programmes by the end of 2016.
They would also create a joint operation to manage their procurement, PSA said.
The intention was to complete the contracts for these projects by the end of December this year, the firm said.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
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