BMW and PSA Peugeot Citroen Group to cooperate on FWD hybrid vehicles
Is the automotive world as we know it coming to and end? After Aston Martin confirmed the production of the Toyota IQ based Cygnet now BMW is going FWD? Because today BMW and the PSA Peugeot Citroen Group announced a partnership for developing hybrid components for front-wheel-drive vehicles.
According to the press release, Norbert Reithofer, Chairman of the Board of Management of BMW AG, and Philippe Varin, Chairman of the Managing Board of PSA Peugeot Citroën signed an agreement that will allow joint development, production and purchasing of components, which will lead to significant cost cuts and, most important, will standardise hybrid vehicles.
“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.”
No financial terms of the agreement were disclosed.
Post tags: Tags: BMW, Citroen, Hybrid, Peugeot