BMW Group and PSA PeugeotCitroen invest EUR 100 million in their joint venture dedicated to the development of hybrid technologies. The project is called "BMW Peugeot Citroen Electrification" and will operate from two sites, one on the outskirts of Munich and one in Monaco Mulhouse (here starting in 2014).
Monaco to host all the research and development and purchases, while that of Mulhouse will be dedicated to industrial activities. Will create 400 new jobs to the site of Monaco by the end of 2011. Another 250 will be dedicated to Mulhouse in preparation for the start of operations in 2014.
In the same year the members were born from this collaboration will be mounted on the car of the two partners. Philippe Varin, president of the Director of PSA Peugeot Citroën, said: "As car manufacturers responsible, we want to create an open European platform and promote the development of European standards for hybrid technology.
This joint venture will enable us to develop a technological and industrial expertise in Europe around the electric power train and retain the full potential of value creation. " Norbert Reithofer, Chairman of the Board of Management of BMW AG, added: "The BMW Group and PSA Peugeot Citroën share the same views on the importance of hybridization in the future.
This joint venture will allow us to adopt a single common to act more strategically. Our partnership will allow significant economies of scale, sharing of development costs, the use of standardized components and the acceleration of the development process. " 
Monaco to host all the research and development and purchases, while that of Mulhouse will be dedicated to industrial activities. Will create 400 new jobs to the site of Monaco by the end of 2011. Another 250 will be dedicated to Mulhouse in preparation for the start of operations in 2014.
In the same year the members were born from this collaboration will be mounted on the car of the two partners. Philippe Varin, president of the Director of PSA Peugeot Citroën, said: "As car manufacturers responsible, we want to create an open European platform and promote the development of European standards for hybrid technology.
This joint venture will enable us to develop a technological and industrial expertise in Europe around the electric power train and retain the full potential of value creation. " Norbert Reithofer, Chairman of the Board of Management of BMW AG, added: "The BMW Group and PSA Peugeot Citroën share the same views on the importance of hybridization in the future.
This joint venture will allow us to adopt a single common to act more strategically. Our partnership will allow significant economies of scale, sharing of development costs, the use of standardized components and the acceleration of the development process. "
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- BMW Group and PSA Peugeot Citroën create JV on hybrid technologies; focus on standard components and open platform (02/02/2011)
- BMW & Peugeot Announce Hybrid Joint Venture (02/02/2011)
- Peugeot Citroen posts return to profit in 2010 (09/02/2011)
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