BMW Chairman Norbert Reithofer had said in a speech earlier this year that BMW intends to have front-wheel-drive cars included in its smaller vehicle classes in the future.
A memorandum of understanding to this effect has been signed by Norbert Reithofer, Chairman of the Board of Management of BMW AG, and Philippe Varin, Chairman of the Managing Board of PSA Peugeot Citroen.
“This cooperation will deliver a major contribution towards a competitive cost structure in the field of electrification. It also represents another important step on the road to sustainable mobility,” said Reithofer.
“We are pleased to broaden our long-standing cooperation based on the strong relationship that exists between our two companies,” added Philippe Varin. “Combining both partners’ expertise in hybrid technologies will clearly create competitive advantage.”
According to the official statement, both parties have agreed not to disclose financial details of the agreement.
This is not the first cooperation between the German and the French Group. Back in February, the two companies agreed to develop the next generation of their jointly designed 4-cylinder petrol engine, which will also meet requirements of the Euro 6 emission standard. The unit is currently fitted into a number of MINI, Peugeot and Citroen brand models.
BMW and PSA could also work together on a new carbon fiber technology, should the opportunity arise. PSA might benefit from such a collaboration by receiving light carbon fiber elements from the joint venture BMW is operating together with SGL Automotive Carbon Fibers in the US.
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