Peugeot Citroen and BMW terminate cooperation in hybrid vehicle sector

PSA Peugeot Citroen announced that it will terminate cooperation with BMW in the field of hybrid vehicles. The former is developing alliances with General Motors.

On September 24, Peugeot Citroen's research and development director Guillaume Faury told AFP that in the future, Peugeot Citroën and BMW will not jointly manufacture any models, nor will they jointly set up factories. Peugeot Citroen spokesperson Laure de Servigny confirmed Foley's statement. BMW spokesman Frank Wienstroth stated that BMW has not yet made a decision on the future prospects of the joint venture.

In October last year, BMW-Peugeot Citroen Electric, a joint venture between PSA Peugeot Citroën and BMW, was officially put into operation. The joint venture's main task is to develop and manufacture hybrid vehicle drive systems. PSA Peugeot Citroën and BMW jointly invested more than 100 million euros to build R&D centers and production plants.

In February this year, Peugeot Citroën formed an alliance with General Motors. In June, the two parties deepened their cooperation. As a result, its original partner, BMW, decided to reassess the joint venture between the two companies. A BMW spokesperson stated that he was discussing with Peugeot Citroen on the dissolution of the joint venture company and planned to buy a 50% share of the joint venture company owned by PSA Peugeot Citroen. At the same time, he said that if the joint venture company established with PSA Peugeot Citroen is disintegrated, it will Continue research on hybrid vehicles.