General Motors and PSA Peugeot Citroen confirmed the signing of a major agreement for the commencement of their Global Strategic Alliance. According to the terms of the Master Agreement dated 29th Feb 2012, the partners have signed agreement related to the three of the initial vehicle projects.
The three vehicle projects that have been selected are under the following segments:
- A joint program for development of C-MPV for the Opel/Vauxhall and a C-CUV2 for the Peugeot brand.
- A mutual MPV3 program for B segment
- Joint development of an upgraded low CO2 for B-segment.
He Vauxhall/Opel and PSA’s next generation of cars in European and other markets will further strengthen the alliance. The first vehicle form the alliance is expected to make their way to the market in 2016. The Peugeot, Citroen and Opel/Vauxhall models will be different and will be carrying traits form their respective brands.
The alliance has also signed an agreement that accepts the creation of a joint purchasing unit in Europe that will be supported by the joint venture. The new unit will carry out combine purchase for both the companies. The system is however still subjected to antitrust approval.
Excited by the success of the alliance the company has also announced their intention to launch new global initiatives to enlarge the scope of their Alliance and grab future opportunity.
- Exploration of products and initiatives in Latin America or other markets.
- Joint development of next generation of the high performance and efficient small gas engine taken from PSA’s global small petrol engine program.