The deal, signed by BMW's chairman of the board Norbert Reithofer and his PSA counterpart, Philippe Varin, calls for the creation of a unit which will meet EU6 requirements. The two will use as a basis the engine employed currently in several MINI, Peugeot and Citroen models.
“We have always been very successful in our cooperation with our partners, and that is particularly true with regard to PSA. We are delighted to continue our engine cooperation and look into options for further collaboration,” Reithofer said.
“This new agreement with BMW is confirming the success of the cooperation between our two companies which has produced 1.3 million engines since 2006. I am confident that the next generation of jointly developed engines will reach the same success as the current generation,” Varin added.
The agreement between the two carmakers can be extended in the future to encompass synergies in the development, production and procurement of selected components.
Mid last year, BMW and PSA were linked together by rumor surrounding a common platform for MINI brand. The platform in question is the one used by the French for their small car segment cars.