BMW Group and PSA Peugeot Citron Create Joint Venture to Enhance Cooperation on Hybrid Technologies
The corner try will concentration on building and producing hybrid components, a fast-growing sector
Cooperation will precedence poignant economies of scale
Munich/Paris. The BMW Group and PSA Peugeot Citron have motionless to enter into a new proviso of their collaboration, by signing an agreement to set adult a 50-50 equity corner try named BMW Peugeot Citron Electrification. The agreement was sealed on Feb 1st by Norbert Reithofer, Chairman of a Board of Management of BMW AG, and Philippe Varin, Chairman of a Managing Board of PSA Peugeot Citron. In Oct 2010, a dual companies had sealed a Memorandum of Understanding designed to enhance their existent team-work to hybrid systems.
BMW Peugeot Citron Electrification will concentration on building and producing hybrid components, including battery packs, E-machines, generators, energy wiring and chargers, while also building program for hybrid systems. Joint investigate and development, prolongation and member purchasing will precedence poignant economies of scale for both companies.
First and foremost, this beginning of BMW Group and PSA Peugeot Citron aims to rise customary hybrid components for a foundation of their car ranges. Its idea is also to emanate an open European height on those technologies that will assistance a European attention to structure itself in a margin of hybridization. To that extent, a corner try will both confederate suppliers by outsourcing growth work and could sell hybrid components to other companies beside a dual shareholders.
Subject to capitulation by a applicable foe authorities, a corner try is approaching to launch a operations in a second entertain of 2011. The new hybrid components will supply both partners vehicles from 2014 onwards.
The corner ventures management, as good as a rest of a workforce, will be drawn from employees of both companies. Additional outmost staff will also be hired. The pivotal government positions will be equally common among a dual companies. Wolfgang Gllich, now obliged for BMW Groups Purchasing Strategy, will be allocated Chief Executive Officer of BMW Peugeot Citron Electrification, and Jean Leflour, now Director Customer Satisfaction and Quality Planning during PSA Peugeot Citron, will be allocated Managing Director.
This mild try will capacitate us to grasp poignant economies of scale in a margin of electrification. It also represents an critical step on a highway to tolerable mobility, pronounced Norbert Reithofer. With this corner venture, we are certain to rise and enhance a imagination and to build a European personality in a margin of automotive hybrid innovation, remarkable Philippe Varin.
The BMW Group and PSA Peugeot Citron have been successfully auxiliary on engines for several years, building together some-more than 1.8 million units from 2006 to 2010. In Feb 2010, a dual companies concluded to rise a subsequent era of their jointly designed 4-cylinder petrol engine, that will also accommodate EU 6 requirements. The corner engine is now built into a series of MINI, Peugeot and Citron code models.
If we have any questions, greatfully contact:
Corporate and Governmental Affairs
[email protected], Business Communications
Telephone: +49 89 382-28044
[email protected], Business and Finance Communications
Telephone: +49 89 382-23362
Media website: www.press.bmwgroup.com
Email: [email protected]
The BMW Group
The BMW Group is one of a many successful manufacturers of automobiles and motorcycles in a universe with a BMW, MINI and Rolls-Royce brands. As a tellurian company, a BMW Group operates 24 prolongation comforts in 13 countries and has a tellurian sales network in some-more than 140 countries.
The BMW Groups tellurian sales volume for a 2010 financial year amounted to approximately 1.46 million automobiles and over 98,000 motorcyles.
The BMW Group achieved a tellurian sales volume of approximately 1.29 million automobiles and over 87,000 motorcycles for a 2009 financial year. Revenues totalled euro 50.68 billion. At 31 Dec 2009, a association employed a tellurian workforce of approximately 96,000 associates.
The success of a BMW Group has always been built on long-term meditative and obliged action. The association has therefore determined ecological and amicable sustainability via a value chain, extensive product shortcoming and a transparent joining to conserving resources as an constituent partial of a strategy. As a outcome of a efforts, a BMW Group has been ranked attention personality in a Dow Jones Sustainability Indexes for a final 6 years.