BMW Group and PSA expand
cooperation to hybrid systems
Munich, Paris - The BMW
Group and PSA Peugeot CitroŽn intend to expand their successful
cooperation by including hybrid components for front-wheel-drive
A memorandum of understanding to
this effect has been signed by Norbert Reithofer, Chairman of
the Board of Management of BMW AG, and Philippe Varin, Chairman
of the Managing Board of PSA Peugeot CitroŽn.
The components are to be used in
front-wheel-drive vehicles with electrified drive trains. Joint
development and production of components as well as joint
purchasing will leverage significant economies of scale for both
partners. It will also allow them to standardise key elements
for the electrification of vehicles.
“This cooperation will deliver a
major contribution towards a competitive cost structure in the
field of electrification. It also represents another important
step on the road to sustainable mobility,” said Reithofer.
“We are pleased to broaden our
long-standing cooperation based on the strong relationship that
exists between our two companies,” added Philippe Varin.
“Combining both partners’ expertise in hybrid technologies will
clearly create competitive advantage.”