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BMW Group and PSA Peugeot Citroën to Invest 100 Million EUR in Joint Venture on Hybrid Technologies

BMW Group and PSA Peugeot Citron to Invest 100 Million EUR in Joint Venture on Hybrid Technologies

Research and Development to be located in a larger Munich area
Production trickery would be in Mulhouse, France
400 employees approaching on house by finish of 2011

Geneva, Switzerland. The BMW Group and PSA Peugeot Citron devise to deposit 100 million EUR in their dictated corner try on hybrid record named BMW Peugeot Citron Electrification, both companies announced during a press discussion in Geneva today. The new association will work out of dual locations a larger Munich area, Germany and Mulhouse, France. 400 employees are approaching to work for a corner try by a finish of 2011. Subject to capitulation by a applicable foe authorities, a new association is approaching to launch a operations in a second entertain of 2011. The new hybrid components will supply both partners vehicles from 2014 onwards.

“As obliged carmakers, we aim to emanate an open European height and encourage a growth of European standards for hybrid technologies. This corner try will also capacitate us to rise modernized technological prolongation imagination in Europe in a margin of electric powertrains, and to keep all a intensity for formulating value, pronounced Philippe Varin, Chairman of a Managing Board of PSA Peugeot Citron.

BMW Group and PSA share a same prophesy of a significance of hybridization in a future. The corner try will capacitate us to act some-more strategically and with a single, common approach. For us, fasten army also means poignant economies of scale, common growth costs, regulating standardised components and a faster growth process, pronounced Norbert Reithofer, Chairman of a Board of Management of BMW AG.

The larger Munich area is a designated plcae for all investigate and growth while all prolongation would take place in Mulhouse, France. The 400 employees approaching to be on house by a finish of a year will be formed in Munich. Additional jobs in Mulhouse will be combined in time for a start of prolongation in 2014. When prolongation has entirely ramped up, a French trickery will have about 250 employees.

The corner ventures management, as good as a workforce, will be mostly drawn from employees of a dual primogenitor companies. Apart from this, devise is to fill 100 new positions with outmost possibilities when a corner try becomes operational after this year. Main pursuit profiles indispensable are engineers specialized in electric mobility and electronics.

The BMW Group and PSA Peugeot Citron have been auxiliary for roughly 10 years. In 2002, both partners concluded to jointly pattern and furnish 4-cylinder engines. Between 2006 and 2010, some-more than 1.8 million motors were built for a series of MINI, Peugeot and Citron code models. In Feb 2010, a dual companies also concluded to rise a subsequent era of their jointly designed 4-cylinder gasoline engine, that will also accommodate EU 6 requirements.

In Oct 2010, BMW Group and PSA Peugeot Citron sealed a Memorandum of Understanding designed to enhance their existent team-work to hybrid systems. On Feb 2, 2011, BMW Group and PSA Peugeot Citron announced that this team-work would take a form of a corner try named BMW Peugeot Citron Electrification.

The beginning between a dual companies is directed during building and producing customary hybrid components for a foundation of their particular car ranges. It will concentration on components like battery packs, E-machines, generators, energy electronics, chargers, and program for hybrid systems. This corner try will capacitate both partners to emanate an open height on these technologies and support a European attention to structure itself in a margin of hybridization. To that end, a corner try will be a bone-fide association and will both confederate suppliers by outsourcing growth work as good as sell hybrid components to third parties.

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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 motorcycles.
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 totaled 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.

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