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US-French auto JV
Source: Agencies |
December 21, 2012, Friday
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Print Edition
Print Edition
PSA Peugeot Citroen and GM have unveiled the first vehicles they will develop together as part of a joint venture they hope will reduce costs and re-energize their businesses. The two automakers said yesterday that they plan to share development for three kinds of cars: a small family van, a small multi-purpose van and a low-emissions vehicle. The two companies inked an alliance earlier this year that included GM taking 7 percent in Peugeot. The French firms are also looking at jointly building a high-performance, energy-efficient engine and expansion into Latin American markets. But they put on hold plans for a mid-size vehicle.
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