On Thursday, General Motors and Peugot-Citroen announced an expansion in their global manufacturing alliance, first established on February 29, 2012.
The partners plan to form a joint venture for purchasing parts for their European operations, and also to develop three vehicles jointly -- a minivan under GM's Opel/Vauxhall badge, a Peugot-badged compact SUV, and a crossover minivan that can be rebadged across both groups. Down the road, the parties will also cooperate in developing a modernized car platform featuring low CO2 emissions, which either or both groups can later market.
The companies noted in a statement that they expect to see the first cars developed under this new alliance arriving in time for model year 2016.
The article General Motors Expands Cooperation With Peugeot-Citroen originally appeared on Fool.com.
Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend General Motors Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.