BMW Peugeot Citroen Electrification joint venture launched
BMW Group and PSA Peugoet have made the creatively named “BMW Peugeot Citroen Electrification” joint venture official. The collaboration is designed to give the brands more rapid access to the electric powertrains both are intending to implement into production by 2015.
A 100 million euro investment is backing the BMW Peugeot Citroen Electrification, as the company intends to be a top supplier of the powertrains in the near future. The investment also opens up about 400 jobs, as that is how many spots should be filled in the Munich Research and Development center, which is already open, by the end of this year.
Since 2002, BMW Group and PSA Peugeot Citroen have been producing motors and working on drive technology as part of an ongoing partnership. With the new developments also open to third parties, this partnership has the potential for substantial influence on the rest of the market to further propel hybrid and eco-friendly technology into standard practice.
– By: Alexandra Koken