GM-Peugeot Alliance Is Official
The two parties has made a joint statement saying their alliance’s goal is to shape platforms and components, together wit the creation of a joint venture that will be able to buy components and materials at better prices.
Initially, GM and PSA Peugeot Citroen intend to focus on small and midsize passenger cars, MPVs and crossovers. The companies will also consider developing a new common platform for low emission vehicles. The first vehicle on a common platform is expected to launch by 2016, the two automakers say.
“This partnership brings tremendous opportunity for our two companies,” said Dan Akerson, GM chairman and CEO. “The alliance synergies, in addition to our independent plans, position GM for long-term sustainable profitability in Europe.”
Philippe Varin, chairman of the managing board of PSA Peugeot Citroen, declared, “This alliance is a tremendously exciting moment for both groups and this partnership is rich in its development potential. With the strong support of our historical shareholder and the arrival of a new and prestigious shareholder, the whole group is mobilized to reap the full benefit of this agreement.”
This all sound a bit too good to be true and doesn’t make any mention of Peugeot or Opel’s struggles in Europe, so we are much more inclined to believe rumors which says the two automakers will cut jobs.