They had already talked to October and last BMW and PSA Peugeot-Citroen have signed an agreement whereby it marks the birth of a joint venture called BMW Peugeot Citroen Electrification, through which the two Houses will develop hybrid systems, including batteries, Generators, Chargers etc ... for their models.
The agreement was signed by Norbert Reithofer, president of BMW AG, and Philippe Varin, his counterpart in PSA. The first objective of the new company will be to develop standards for electrical components throughout the extensive range of models. Another objective, far more challenging, is to be able to standardize on a European level hybrid technology, in order to help all those companies operating in the Old Continent to reduce costs.
The hybrid platform of the BMW Peugeot Citroen Electrification will be "open" in that it can also be used by third parties. The organizational structure of the new Franco-German joint venture will have a workforce equally split 50% -50%, with workers, engineers and executives from both Houses equally.
"This cooperation allows us to make an important step in the economy of scale. It also represents an important step towards sustainable mobility, "said Norbert Reithofer. "With this joint venture we are sure to develop and expand our experience to become European leaders in the field of the hybrid," added Philippe Varin.
BMW Group and PSA Peugeot Citroën actively collaborating since 2006 for engines of 1.4 and 1.6-liter MINI and various models adopted by the French group. 
The agreement was signed by Norbert Reithofer, president of BMW AG, and Philippe Varin, his counterpart in PSA. The first objective of the new company will be to develop standards for electrical components throughout the extensive range of models. Another objective, far more challenging, is to be able to standardize on a European level hybrid technology, in order to help all those companies operating in the Old Continent to reduce costs.
The hybrid platform of the BMW Peugeot Citroen Electrification will be "open" in that it can also be used by third parties. The organizational structure of the new Franco-German joint venture will have a workforce equally split 50% -50%, with workers, engineers and executives from both Houses equally.
"This cooperation allows us to make an important step in the economy of scale. It also represents an important step towards sustainable mobility, "said Norbert Reithofer. "With this joint venture we are sure to develop and expand our experience to become European leaders in the field of the hybrid," added Philippe Varin.
BMW Group and PSA Peugeot Citroën actively collaborating since 2006 for engines of 1.4 and 1.6-liter MINI and various models adopted by the French group.
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